کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5054610 | 1476533 | 2013 | 11 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Oil price uncertainty, monetary policy and the macroeconomy: The Canadian perspective
ترجمه فارسی عنوان
عدم اطمینان قیمت نفت، سیاست پولی و اقتصاد کلان: چشم انداز کانادایی
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
This paper revisits the link between oil price uncertainty and macroeconomy in the context of a net oil exporting country, Canada. Results obtained from alternative Structural VAR models suggest that while shocks to oil price level do not affect the aggregate level of output, the oil price uncertainty exerts considerable impacts on the Canadian economy. It is found that oil price uncertainty makes a major contribution to overall variations in the output level. Results also show that higher oil price uncertainty significantly decreases both output and price levels, resembling an adverse demand shock. Oil price uncertainty causes output to decline in most of the sub-sectors including durable and non-durable manufacturing. It is found that the Central Bank of Canada reacts with an expansionary monetary policy to oil price uncertainty shocks.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Economic Modelling - Volume 35, September 2013, Pages 249-259
Journal: Economic Modelling - Volume 35, September 2013, Pages 249-259
نویسندگان
Omar H.M.N. Bashar, I.K.M. Mokhtarul Wadud, Huson Joher Ali Ahmed,