Oil prices and unemployment in the UK before and after the crisis: A Bayesian VAR approach. A note.
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Title
Oil prices and unemployment in the UK before and after the crisis: A Bayesian VAR approach. A note.Date
2018Publisher
ElsevierISSN
0378-4371Bibliographic citation
CUESTAS, Juan Carlos; ORDÓÑEZ, Javier. Oil prices and unemployment in the UK before and after the crisis: A Bayesian VAR approach. A note. Physica A: Statistical Mechanics and its Applications, 2018, vol. 510, p. 200-207.Type
info:eu-repo/semantics/articlePublisher version
https://www.sciencedirect.com/science/article/pii/S0378437118308380Version
info:eu-repo/semantics/submittedVersionSubject
Abstract
The aim of this paper is to analyse the role of oil price movements in the
evolution of unemployment in the UK, accounting for asymmetric effects.
Distinguishing between positive and negative innovations in oil ... [+]
The aim of this paper is to analyse the role of oil price movements in the
evolution of unemployment in the UK, accounting for asymmetric effects.
Distinguishing between positive and negative innovations in oil prices allows
us to provide policy insights. Estimating Bayesian SVARs, we find that the
relationship between oil prices and unemployment in the UK differs before and
after the beginning of the Great Recession. We also find that negative oil price
innovations have contributed positively to preventing further rises in
unemployment after the start of the crisis in 2008. [-]
Is part of
Physica A 510 (2018)Investigation project
ECO2017-83255- C3-3-P ; ECO2017-85503-R ; UJI-B2017-33 ; PROMETEOII/201/053Rights
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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