EconPapers    
Economics at your fingertips  
 

Macroeconomic effects of high oil prices on the Swiss economy: 2003–2008

Erdal Atukeren

International Journal of Sustainable Economy, 2011, vol. 3, issue 1, 1-19

Abstract: In this paper, we examine the macroeconomic impact of the high oil price era between 2003 and mid-2008 on the Swiss economy. Using a medium-scale disequilibrium macroeconometric model, we focus not only on the effects of oil prices on the real GDP growth but also on their effects on demand-side components, prices, labour market and capacity output. Our simulation results indicate that high oil prices still had a non-negligible negative impact on economic performance despite the observed above average real economic growth rates. We have also found that an accommodative monetary policy might help in smoothing the negative effects of oil price shocks.

Keywords: oil prices; structural modelling; macroeconometric modelling; Switzerland; Swiss economy; GDP growth; demand-side components; labour market; capacity output; simulation; economic performance; economic growth; monetary policy. (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://www.inderscience.com/link.php?id=37717 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ids:ijsuse:v:3:y:2011:i:1:p:1-19

Access Statistics for this article

More articles in International Journal of Sustainable Economy from Inderscience Enterprises Ltd
Bibliographic data for series maintained by Sarah Parker ().

 
Page updated 2021-05-20
Handle: RePEc:ids:ijsuse:v:3:y:2011:i:1:p:1-19