Oil Price Shocks and Unemployment Rate: New Evidence from the MENA Region
Iman Cheratian (),
Mohammad Reza Farzanegan () and
Saleh Goltabar ()
MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)
We examine the effects of oil price shocks on unemployment rates in the MENA oil-exporting and oil-importing countries over the period 1991-2017. Using the nonlinear autoregressive distributed lag (NARDL) model, the results show that in the short-run, the positive changes of oil prices only exert a positive (increasing) impact on the unemployment rate for oil-exporting countries. However, in the long-run, positive changes in oil prices have a significant increasing effect on the unemployment rate for oil-exporting and oil-importing countries in the MENA region. We also find that the negative changes in oil prices do not show a significant effect on the unemployment rate. Our findings are in line with predictions of the Dutch disease hypothesis.
Keywords: Oil price shocks; Unemployment rate; MENA region; NARDL (search for similar items in EconPapers)
JEL-codes: Q43 E24 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ara, nep-ene and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1) Track citations by RSS feed
Downloads: (external link)
http://www.uni-marburg.de/fb02/makro/forschung/mag ... 1-2019_cheratian.pdf First 201931 (application/pdf)
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:mar:magkse:201931
Access Statistics for this paper
More papers in MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) Contact information at EDIRC.
Bibliographic data for series maintained by Bernd Hayo ().