WPŁYW CEN ROPY NAFTOWEJ NA PRODUKCJĘ I INFLACJĘ W WYBRANYCH PAŃSTWACH UNII EUROPEJSKIEJ
THE IMPACT OF CRUDE OIL PRICES ON PRODUCTION AND INFLATION IN SELECTED EU COUNTRIES
Author(s): Andrzej GeiseSubject(s): Economy, Supranational / Global Economy, EU-Accession / EU-DEvelopment, Financial Markets
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: crude oil prices; economic activity; Granger causality; impulse response function;
Summary/Abstract: In this article, we examine empirically the relationship between resources prices and economic activity in the presence of structural break due to financial crisis in selected European Union countries. The primary objective is to investigate and analyze the Granger causal relationships and impulse response function between oil prices, production and inflation in Germany, France, Denmark, Nederland, Poland, Czech Republic and EU in period 01.1995-04.2014. Granger causality tests provide evidence that there is unidirectional causality running from oil prices to production and inflation.
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XVI/2015
- Issue No: 3
- Page Range: 48-59
- Page Count: 12
- Language: Polish