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Effects of oil shocks on EMU exports: technological level differences

Hodula, Martin ; Vahalík, Bohdan

Review of economic perspectives, 2017-12, Vol.17 (4), p.399-423 [Periódico revisado por pares]

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Título:
Effects of oil shocks on EMU exports: technological level differences
Autor: Hodula, Martin ; Vahalík, Bohdan
Assuntos: Economic theory ; EMU ; export ; Exports ; Petroleum production ; Supply & demand ; technological structure ; TVP-VAR
É parte de: Review of economic perspectives, 2017-12, Vol.17 (4), p.399-423
Descrição: This article provides some new empirical perspectives on the relationship between oil-market fluctuations and technological structure of EMU export. We rely on a time-varying parameter VAR model to capture the reaction of different technological structures of EMU export to various oil-market innovations in the period 2002-2015. Our results can be summarized as follows: (1) increase in crude oil production is likely to reduce oil prices and therefore increases all EMU exports due to lower production and transportation costs; (2) increase in global demand is more likely to be transmitted to goods with higher added value; (3) high-tech exports decrease in the first months after the global demand shock as a result of a delayed investment decision process; (4) increasing oil prices yield only marginal effect on EMU export.
Editor: Warsaw: De Gruyter
Idioma: Inglês;Tcheco

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