메뉴 건너뛰기




Volumn 38, Issue 8, 2010, Pages 4142-4151

The relationship between oil price shocks and China's macro-economy: An empirical analysis

Author keywords

China; Macro economy; Oil price shocks

Indexed keywords

ECONOMIC ACTIVITIES; ECONOMIC GROWTHS; EMPIRICAL ANALYSIS; NON-LINEAR; OIL PRICE SHOCKS; OIL PRICES; PRICING MECHANISM; STRUCTURAL BREAK; STRUCTURAL STABILITIES; SUB-SAMPLES; VECTOR AUTOREGRESSIONS; WORLD OIL MARKETS;

EID: 77952818894     PISSN: 03014215     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.enpol.2010.03.042     Document Type: Article
Times cited : (243)

References (41)
  • 1
    • 0001162133 scopus 로고
    • Tests for parameter instability and structure change with unknown change point
    • Andrews W.K., Donald Tests for parameter instability and structure change with unknown change point. Econometrica 1993, 61(4):821-856.
    • (1993) Econometrica , vol.61 , Issue.4 , pp. 821-856
    • Andrews, W.K.,.D.1
  • 2
    • 0000209591 scopus 로고
    • Optimal tests when a nuisance parameter is present only under the alternative
    • Andrews W.K., Donald, Ploberger Werner Optimal tests when a nuisance parameter is present only under the alternative. Econometrica 1994, 62(6):1383-1414.
    • (1994) Econometrica , vol.62 , Issue.6 , pp. 1383-1414
    • Andrews, W.K.,.D.1    Ploberger, W.2
  • 3
    • 0036318555 scopus 로고    scopus 로고
    • Oil price shocks and the U.S. economy: where does the asymmetry originate?
    • Balke S.Nathan, Stephen P.A.Brown, Mine K.Yucel Oil price shocks and the U.S. economy: where does the asymmetry originate?. Energy Journal 2002, 23(3):27-51.
    • (2002) Energy Journal , vol.23 , Issue.3 , pp. 27-51
    • Balke, S.N.1    Stephen, P.A.B.2    Mine, K.Y.3
  • 4
    • 0347540118 scopus 로고    scopus 로고
    • Do we really know that oil caused the great stagflation? A monetary alternative
    • Barsky B.Robert, Kilian Lutz Do we really know that oil caused the great stagflation? A monetary alternative. NBER Macroeconomics Annual 2001, 16:137-183.
    • (2001) NBER Macroeconomics Annual , vol.16 , pp. 137-183
    • Barsky, B.R.1    Kilian, L.2
  • 6
    • 0013381104 scopus 로고    scopus 로고
    • Systematic monetary policy and the effects of oil price shocks
    • Bernanke S.Ben, et al. Systematic monetary policy and the effects of oil price shocks. Brookings Paper on Economic Activity 1997, 1:91-157.
    • (1997) Brookings Paper on Economic Activity , vol.1 , pp. 91-157
    • Bernanke, S.B.1
  • 7
    • 0036241169 scopus 로고    scopus 로고
    • Energy prices and aggregate economic activity: an interpretative survey
    • Brown P.A.Stephen, Yucel Mine K. Energy prices and aggregate economic activity: an interpretative survey. The Quarterly Review of Economics and Finance 2002, 42:193-208.
    • (2002) The Quarterly Review of Economics and Finance , vol.42 , pp. 193-208
    • Brown, P.A.S.1    Yucel, M.K.2
  • 8
    • 84959809501 scopus 로고
    • Input price shocks and the slowdown in economic growth: the case of U.K. manufacturing
    • Bruno Michael, Sachs Jeffrey Input price shocks and the slowdown in economic growth: the case of U.K. manufacturing. Review of Economic Statistics 1982, 49(5):679-705.
    • (1982) Review of Economic Statistics , vol.49 , Issue.5 , pp. 679-705
    • Bruno, M.1    Sachs, J.2
  • 9
    • 0021626296 scopus 로고
    • Testing for the effects of oil-price rises using vector autoregressions
    • Burbidge John, Harrison Alan Testing for the effects of oil-price rises using vector autoregressions. International Economic Review 1984, 25(2):459-484.
    • (1984) International Economic Review , vol.25 , Issue.2 , pp. 459-484
    • Burbidge, J.1    Harrison, A.2
  • 10
    • 68049109248 scopus 로고    scopus 로고
    • Price causal relations between China and the world oil markets
    • Chen K.C., Chen Shaoling, Wu Lifan Price causal relations between China and the world oil markets. Global Finance Journal 2009, 20(2):107-118.
    • (2009) Global Finance Journal , vol.20 , Issue.2 , pp. 107-118
    • Chen, K.C.1    Chen, S.2    Wu, L.3
  • 11
    • 0001369142 scopus 로고
    • Tests of equality between sets of coefficients in two linear regressions
    • Chow C.Gregory Tests of equality between sets of coefficients in two linear regressions. Econometrica 1960, 28(3):591-605.
    • (1960) Econometrica , vol.28 , Issue.3 , pp. 591-605
    • Chow, C.G.1
  • 12
    • 48949085609 scopus 로고    scopus 로고
    • Relationships between oil price shocks and stock market: an empirical analysis from China
    • Cong Rong-Gang, et al. Relationships between oil price shocks and stock market: an empirical analysis from China. Energy Policy 2008, 36(9):3544-3553.
    • (2008) Energy Policy , vol.36 , Issue.9 , pp. 3544-3553
    • Cong, R.-G.1
  • 13
    • 0020414299 scopus 로고
    • The price of oil and world inflation and recession
    • Darby R.Michael The price of oil and world inflation and recession. American Economic Review 1982, 72(4):738-751.
    • (1982) American Economic Review , vol.72 , Issue.4 , pp. 738-751
    • Darby, R.M.1
  • 14
    • 0000817740 scopus 로고    scopus 로고
    • Sectoral job creation and destruction responses to oil price changes
    • Davis J.Steven, Haltiwanger John Sectoral job creation and destruction responses to oil price changes. Journal of Monetary Economics 2001, 48(3):465-512.
    • (2001) Journal of Monetary Economics , vol.48 , Issue.3 , pp. 465-512
    • Davis, J.S.1    Haltiwanger, J.2
  • 15
    • 85036258669 scopus 로고
    • Distribution of the estimators for autoregressive time series with a unit root
    • Dickey A.David, Fuller Wayne A. Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association 1979, 74(366):427-431.
    • (1979) Journal of the American Statistical Association , vol.74 , Issue.366 , pp. 427-431
    • Dickey, A.D.1    Fuller, W.A.2
  • 16
    • 70350064597 scopus 로고    scopus 로고
    • The effect of oil price on China's exports
    • Faria J.R., et al. The effect of oil price on China's exports. China Economic Review 2009, 20(4):793-805.
    • (2009) China Economic Review , vol.20 , Issue.4 , pp. 793-805
    • Faria, J.R.1
  • 17
    • 0040788529 scopus 로고    scopus 로고
    • Perfect competition and the effects of energy price increases on economics activity
    • Finn G.Mary Perfect competition and the effects of energy price increases on economics activity. Journal of Money, Credit and Banking 2000, 32(3):400-416.
    • (2000) Journal of Money, Credit and Banking , vol.32 , Issue.3 , pp. 400-416
    • Finn, G.M.1
  • 18
    • 0001757056 scopus 로고
    • Crude oil and the macroeconomy: tests of some popular notions: note
    • Gisser Micha, Goodwin Thomas H. Crude oil and the macroeconomy: tests of some popular notions: note. Journal of Money, Credit and Banking 1986, 18(1):95-103.
    • (1986) Journal of Money, Credit and Banking , vol.18 , Issue.1 , pp. 95-103
    • Gisser, M.1    Goodwin, T.H.2
  • 19
    • 85017128111 scopus 로고
    • Oil and the macroeconomy since world war two
    • Hamilton James Oil and the macroeconomy since world war two. Journal of Political Economy 1983, 91(2):228-248.
    • (1983) Journal of Political Economy , vol.91 , Issue.2 , pp. 228-248
    • Hamilton, J.1
  • 20
    • 0000371706 scopus 로고
    • A neoclassical model of unemployment and the business cycle
    • Hamilton James A neoclassical model of unemployment and the business cycle. Journal of Political Economy 1988, 96(3):593-617.
    • (1988) Journal of Political Economy , vol.96 , Issue.3 , pp. 593-617
    • Hamilton, J.1
  • 22
    • 0030268612 scopus 로고    scopus 로고
    • This is what happened to the oil price-macroeconomy relationship
    • Hamilton James This is what happened to the oil price-macroeconomy relationship. Journal of Monetary Economics 1996, 38(2):215-220.
    • (1996) Journal of Monetary Economics , vol.38 , Issue.2 , pp. 215-220
    • Hamilton, J.1
  • 23
    • 0347985218 scopus 로고    scopus 로고
    • What is an oil shock?
    • Hamilton James What is an oil shock?. Journal of Econometrics 2003, 113(2):363-398.
    • (2003) Journal of Econometrics , vol.113 , Issue.2 , pp. 363-398
    • Hamilton, J.1
  • 24
    • 70349904040 scopus 로고    scopus 로고
    • Understanding crude oil prices
    • Hamilton James Understanding crude oil prices. Energy Journal 2009, 30(2):179-206.
    • (2009) Energy Journal , vol.30 , Issue.2 , pp. 179-206
    • Hamilton, J.1
  • 25
    • 2442569001 scopus 로고    scopus 로고
    • Oil shocks and aggregate macroeconomic behavior: the role of monetary policy
    • Hamilton James, Herrera Ana Maria Oil shocks and aggregate macroeconomic behavior: the role of monetary policy. Journal of Money, Credit and Banking 2004, 36(2):265-286.
    • (2004) Journal of Money, Credit and Banking , vol.36 , Issue.2 , pp. 265-286
    • Hamilton, J.1    Herrera, A.M.2
  • 26
    • 0030268594 scopus 로고    scopus 로고
    • What happened to the oil price-macroeconomy relationship?
    • Hooker A.Mark What happened to the oil price-macroeconomy relationship?. Journal of Monetary Economics 1996, 38(2):195-213.
    • (1996) Journal of Monetary Economics , vol.38 , Issue.2 , pp. 195-213
    • Hooker, A.M.1
  • 27
    • 36349032745 scopus 로고    scopus 로고
    • The role of oil price shocks on China's real exchange rate
    • Huang Ying, Guo Feng The role of oil price shocks on China's real exchange rate. China Economic Review 2007, 18:403-416.
    • (2007) China Economic Review , vol.18 , pp. 403-416
    • Huang, Y.1    Guo, F.2
  • 28
    • 77953727292 scopus 로고    scopus 로고
    • International Energy Agency (IEA),. World energy outlook 2006.
    • International Energy Agency (IEA), 2006. World energy outlook 2006. http://www.worldenergyoutlook.org/.
    • (2006)
  • 29
    • 1942532833 scopus 로고    scopus 로고
    • Oil price shocks and the macroeconomy: what has been learned since 1996
    • Jones W.Donald, Leiby Paul N., Paik Injia K. Oil price shocks and the macroeconomy: what has been learned since 1996. Energy Journal 2004, 25(2):1-31.
    • (2004) Energy Journal , vol.25 , Issue.2 , pp. 1-31
    • Jones, W.D.1    Leiby, P.N.2    Paik, I.K.3
  • 30
    • 0036084365 scopus 로고    scopus 로고
    • On the dynamic effects of oil price shocks: a study using industry level data
    • Lee Kiseok, Ni Shawn On the dynamic effects of oil price shocks: a study using industry level data. Journal of Monetary Economics 2002, 49(4):823-852.
    • (2002) Journal of Monetary Economics , vol.49 , Issue.4 , pp. 823-852
    • Lee, K.1    Ni, S.2
  • 31
    • 0029481013 scopus 로고    scopus 로고
    • Oil shocks and the macroeconomy: the role of price variability
    • Lee Kiseok, Ni Shawn, Ratti Ronald A. Oil shocks and the macroeconomy: the role of price variability. Energy Journal 1996, 16(4):39-56.
    • (1996) Energy Journal , vol.16 , Issue.4 , pp. 39-56
    • Lee, K.1    Ni, S.2    Ratti, R.A.3
  • 32
    • 0000423634 scopus 로고
    • Sectoral shifts and cyclical unemployment
    • Lilien M.David Sectoral shifts and cyclical unemployment. Journal of Political Economy 1982, 90(40):777-793.
    • (1982) Journal of Political Economy , vol.90 , Issue.40 , pp. 777-793
    • Lilien, M.D.1
  • 33
    • 0000712639 scopus 로고
    • Oil and the macroeconomy when prices go up and down: an extension of Hamilton's results
    • Mork A.Knut Oil and the macroeconomy when prices go up and down: an extension of Hamilton's results. Journal of Political Economy 1989, 97(3):740-744.
    • (1989) Journal of Political Economy , vol.97 , Issue.3 , pp. 740-744
    • Mork, A.K.1
  • 34
    • 77956888124 scopus 로고
    • Testing for a unit root in time series regression
    • Phillips C.Peter, Perron Pierre Testing for a unit root in time series regression. Biometrika 1988, 75(2):335-346.
    • (1988) Biometrika , vol.75 , Issue.2 , pp. 335-346
    • Phillips, C.P.1    Perron, P.2
  • 36
    • 77953698899 scopus 로고    scopus 로고
    • Rogoff Kenneth,. Oil and the global economy. Harvard University, Working Paper.
    • Rogoff Kenneth, 2006. Oil and the global economy. Harvard University, Working Paper.
    • (2006)
  • 37
    • 17144433250 scopus 로고    scopus 로고
    • Imperfect competition and the effects of energy price increases on economies activity
    • Rotemberg J.Julio, Woodford Michael Imperfect competition and the effects of energy price increases on economies activity. Journal of Money, Credit and Banking 1996, 28(4):549-577.
    • (1996) Journal of Money, Credit and Banking , vol.28 , Issue.4 , pp. 549-577
    • Rotemberg, J.J.1    Woodford, M.2
  • 38
    • 0000997472 scopus 로고
    • Macroeconomics and reality
    • Christopher Sims A. Macroeconomics and reality. Econometrica 1980, 48(1):1-48.
    • (1980) Econometrica , vol.48 , Issue.1 , pp. 1-48
    • Christopher, S.A.1
  • 39
    • 0029529608 scopus 로고
    • China's oil policy and its impact
    • Wang Haijiang China's oil policy and its impact. Energy Policy 1995, 23(7):627-635.
    • (1995) Energy Policy , vol.23 , Issue.7 , pp. 627-635
    • Wang, H.1
  • 40
    • 77952840274 scopus 로고    scopus 로고
    • Some opinions on compilation of consumers price index in China
    • (In Chinese)
    • Xie An Some opinions on compilation of consumers price index in China. Statistical Research 1998, 3:72-74. (In Chinese).
    • (1998) Statistical Research , vol.3 , pp. 72-74
    • Xie, A.1
  • 41
    • 48049105272 scopus 로고    scopus 로고
    • Oil shock and economic growth in Japan: a nonlinear approach
    • Zhang Dayong Oil shock and economic growth in Japan: a nonlinear approach. Energy Economics 2008, 30(5):2374-2390.
    • (2008) Energy Economics , vol.30 , Issue.5 , pp. 2374-2390
    • Zhang, D.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.