Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/213472
Authors: 
Cheratian, Iman
Farzanegan, Mohammad Reza
Goltabar, Saleh
Year of Publication: 
2019
Series/Report no.: 
MAGKS Joint Discussion Paper Series in Economics No. 31-2019
Abstract: 
We examine the effects of oil price shocks on unemployment rates in the MENA oil-exporting and oil-importing countries over the period 1991-2017. Using the nonlinear autoregressive distributed lag (NARDL) model, the results show that in the short-run, the positive changes of oil prices only exert a positive (increasing) impact on the unemployment rate for oil-exporting countries. However, in the long-run, positive changes in oil prices have a significant increasing effect on the unemployment rate for oil-exporting and oil-importing countries in the MENA region. We also find that the negative changes in oil prices do not show a significant effect on the unemployment rate. Our findings are in line with predictions of the Dutch disease hypothesis.
Subjects: 
Oil price shocks
Unemployment rate
MENA region
NARDL
JEL: 
Q43
E24
Document Type: 
Working Paper

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