The relationship between Market Size, Inflation and Energy

Mehdi Behname

Economic Analysis Working Papers (2002-2010). Atlantic Review of Economics (2011-2016), 2013, vol. 2, -

Abstract: The aim of this research is to study the relationship among oil prices, market size and inflation in the North of Europe over the period 1980 - 2009 by applying panel data model. The unit root test shows that all variables are stationary in first-order difference. Hausman (1978) test suggests the fixed-effects model. Pedroni (2004) test also shows the variables are not co-integrated. By applying short-term Granger test, it has been specified there is a bilateral relationship among unemployment and market size and oil price is the cause of economic growth and inflation. The oil countries importing should prepare the arrangement to minimize the impact of oil shocks on economic growth.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:eac:articl:17/12

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