Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/50867
Authors: 
Atukeren, Erdal
Year of Publication: 
2003
Series/Report no.: 
Arbeitspapiere // Konjunkturforschungsstelle, Eidgenössische Technische Hochschule Zürich 77
Abstract: 
This paper examines the macroeconomic effects of an oil price shock in a small open industrial economy without oil resources, namely, Switzerland. First, we test whether oil price shocks Granger-cause Swiss macroeconomic variables, and use a medium-scale macroeconometric model to track the effects of an oil price shock. Our estimates show that large increases in oil prices lead to a rather small decline in Swiss real GDP. Furthermore, there is no permanent pass-through effect via core inflation. Oil price shocks also adversely affect Swiss exports, but imports also shrink and lessen the overall impact on real GDP growth.
JEL: 
Q43
C32
C50
Document Type: 
Working Paper

Files in This Item:
File
Size
203.31 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.