Oil shocks on unemployment in Central and Eastern Europe

Juan Cuestas and Luis Gil-Alana

No 01/16, Faculty Working Papers from School of Economics and Business Administration, University of Navarra

Abstract: The aim of this paper is to shine some light on the effect of oil price movements on unemployment in Central and Eastern Europe. In order to do so, we disentangle oil prices movements by their sign. From there we analyse the separate effect of positive and negative movements of oil prices on unemployment rates. We find that although oil prices and unemployment are not very much correlated in the short run, the effect of oil price shocks on the natural rate of unemployment goes in the same direction, i.e. increases or decreases in oil prices increase or decrease the natural rate of unemployment.

Keywords: unemployment rates; oil prices shocks; Central and Eastern Europe (search for similar items in EconPapers)
JEL-codes: C22 E39 Q43 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2016-01-11
New Economics Papers: this item is included in nep-eec, nep-ene, nep-fmk and nep-mac
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Citations: View citations in EconPapers (10)

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