OIL PRICES SHOCKS AND GOVERNMENT EXPENDITURE
نویسندگان
چکیده
This study employs the vector autoregressive model (VAR), impulse response function and variance decomposition to impact of oil price shocks on components government spending both oil-exporting importing countries over period from 1980 2018. While vast majority previous studies focused spending, this emphasized these current capital expenditure. It was found that affect expenditure positively in two groups countries. it affects negatively oil-importing countries.Keywords: Oil-exporting countries, Oil-importing Oil price, VAR model, expenditures.JEL Classifications: H5, O13, Q43DOI: https://doi.org/10.32479/ijeep.11172
منابع مشابه
Government Policy Response to War-Expenditure Shocks
A theory of government policy determination, based on intertemporal distortion-smoothing and limited commitment, matches the set of stylized facts of U.S. wartime policy.
متن کاملInvestigating the Effect of Oil Price Shocks on Stock and Gold Prices During Periods of Decline and Increase in Oil Prices
This paper presents a differentiated approach for assessing the effect of oil price changes on gold price and the stock index, during upward and downward movements, using the Markov Switching Bayesian VAR model to analyze data for Iran over the period 2009 to 2016. We study the non-linear relationship between the price of oil and gold and the stock market index during periods of price decrease...
متن کاملEffects of Oil Returns and External Debt on the Government Expenditure: A Case Study of Syria
This study attempts to investigate the effect of oil returns and external debt on the government expenditure in Syria over the period 1970-2010. The Johansen cointegration test showed that oil returns and external debt have a positive and significant long run relationship with government expenditure. The Granger causality test indicates unidirectional short-run causality relationships running f...
متن کاملInvestment Shocks and Asset Prices ∗
I explore the implications for asset prices and macroeconomic dynamics of shocks that improve real investment opportunities and thus affect the representative household’s marginal utility. These investment shocks generate differences in risk premia due to their heterogenous impact on firms: they benefit firms producing investment relative to firms producing consumption goods, and increase the v...
متن کاملStock Prices, Regional Housing Prices, and Aggregate Technology Shocks
The correlation between stock and housing prices, which is critical for household asset allocations, varies widely by metropolitan area and country. A general equilibrium model demonstrates that an aggregate positive technology shock increases stock prices and housing demand but can decrease housing prices where land supply is elastic because stable future rents are discounted at higher interes...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of Energy Economics and Policy
سال: 2021
ISSN: ['2146-4553']
DOI: https://doi.org/10.32479/ijeep.11172