| 来源类型 | Research papers
|
| 规范类型 | 报告
|
| A Study on the Impact of Oil Price Changes on Industrial Activities |
| Y. D. Kim
|
| 发表日期 | 2003-12-31
|
| 出版年 | 2003
|
| 语种 | 英语
|
| 摘要 |
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This study investigates the impact of oil price changes on economic and industrial activities in Korea and their transmission channels. First, we build a general form of structural VAR model to describe the macroeconomy and manufacturing industries, and use this model to estimate the impulse responses of macroeconomic and industrial variables to oil price changes. It is found that oil price increases makes production dwindle and the contraction lasts for a long time. Second, we examine how oil price change impacts are transmitted to economic variables. In this experiment, we find that oil price change impacts are transmitted and magnified through the conventional supply channel of increasing costs and prices in the energy intensive industries and through demand contraction in the other industries. And it is found that the production of manufacturing industries following oil price increase is sluggish through decrease in export demand as well as increase in production costs. These findings imply that the supply channel is important in the energy intensive industries, and that the industrial policy promoting market competition helps mitigate the impact of oil price changes on economic activities.
142 pages. 51 refs., 67 figs., 23 tabs.
, Language: Korean |
| URL | http://www.keei.re.kr/web_keei/en_publish.nsf/by_report_year/7873A98167B72CD249256E2F00261ACF?OpenDocument
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| 来源智库 | Korea Energy Economics Institute (Republic of Korea)
|
| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/322260
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推荐引用方式
GB/T 7714 |
Y. D. Kim. A Study on the Impact of Oil Price Changes on Industrial Activities. 2003.
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