Effects of oil shocks on EMU exports: technological level differences
Martin Hodula and
Vahalík Bohdan ()
Additional contact information
Vahalík Bohdan: VŠB-Technical University of Ostrava, Economic Faculty, Department of European Integration, Sokolská třída 33, 701 21 Ostrava, Czech Republic
Review of Economic Perspectives, 2017, vol. 17, issue 4, 399-423
This article provides some new empirical perspectives on the relationship between oil-market fluctuations and technological structure of EMU export. We rely on a time-varying parameter VAR model to capture the reaction of different technological structures of EMU export to various oil-market innovations in the period 2002-2015. Our results can be summarized as follows: (1) increase in crude oil production is likely to reduce oil prices and therefore increases all EMU exports due to lower production and transportation costs; (2) increase in global demand is more likely to be transmitted to goods with higher added value; (3) high-tech exports decrease in the first months after the global demand shock as a result of a delayed investment decision process; (4) increasing oil prices yield only marginal effect on EMU export.
Keywords: EMU; export; technological structure; TVP-VAR (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://www.degruyter.com/view/j/revecp.2017.17.is ... -0021.xml?format=INT (text/html)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:vrs:reoecp:v:17:y:2017:i:4:p:399-423:n:4
Access Statistics for this article
Review of Economic Perspectives is currently edited by Antonín Slaný
More articles in Review of Economic Perspectives from Sciendo
Bibliographic data for series maintained by Peter Golla ().