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首页> 外文期刊>Renewable & Sustainable Energy Reviews >Oil price movements and macroeconomic performance: Evidence from twenty-six OECD countries
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Oil price movements and macroeconomic performance: Evidence from twenty-six OECD countries

机译：石油价格走势和宏观经济表现：来自二十六个经合组织国家的证据

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摘要

This study investigates the relationship between oil price movements and macroeconomic aggregates, such as gross domestic product (GDP), consumer prices (CPI), and unemployment, for OECD countries. To do this, second generation econometric methods have been employed to panel data including panel unit root tests, panel cointegration tests, and panel long-run models. Panel unit root tests suggest that oil prices plus selected macroeconomic aggregates in OECD countries are non-stationary at levels but become stationary at first differences in the existence of multiple structural breaks. Five structural break points have successfully been investigated in the series of this study during panel unit root and panel cointegration tests. Durbin-H panel co-integration tests confirm that there is a long-term relationship between oil prices and those macroeconomic aggregates. On the other hand, results of this study reveal that the price of oil exerts statistically and negatively significant impacts on GDP, CPI, and unemployment in the case of OECD countries in general. (C) 2014 Elsevier Ltd. All rights reserved.
机译：这项研究调查了OECD国家的油价走势与宏观经济总量之间的关系，例如国内生产总值（GDP），消费者价格（CPI）和失业率。为此，第二代计量经济学方法已用于面板数据，包括面板单位根检验，面板协整检验和面板长期模型。面板单位根检验表明，经合组织国家中的石油价格加上选定的宏观经济总量在一定水平上不是平稳的，但是在存在多个结构性断裂的情况下，首先差异是平稳的。在面板单元根部和面板协整测试期间的一系列研究中，成功​​地研究了五个结构断裂点。 Durbin-H面板协整测试证实，油价与那些宏观经济总量之间存在长期关系。另一方面，这项研究的结果表明，在整个经合组织国家中，石油价格对GDP，CPI和失业率具有统计学上的负面影响。 （C）2014 Elsevier Ltd.保留所有权利。

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