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Oil Price Shocks and Unemployment Rate: New Evidence from the MENA Region
We examine the effects of oil price shocks on unemployment rates in the MENA oil-exporting and oil-importing countries over the period 1991-2017. Using the nonlinear autoregressive distributed lag (NARDL) model, the results show that in the short-run, the positive changes of oil prices only exert a...
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| Publicado en: | MAGKS - Joint Discussion Paper Series in Economics (Band 31-2019) |
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| Autores principales: | , , |
| Formato: | Artículo |
| Lenguaje: | inglés |
| Publicado: |
Philipps-Universität Marburg
2019
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| Materias: | |
| Acceso en línea: | Texto Completo PDF |
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| Sumario: | We examine the effects of oil price shocks on unemployment rates in the MENA oil-exporting and oil-importing countries over the period 1991-2017. Using the nonlinear autoregressive distributed lag (NARDL) model, the results show that in the short-run, the positive changes of oil prices only exert a positive (increasing) impact on the unemployment rate for oil-exporting countries. However, in the long-run, positive changes in oil prices have a significant increasing effect on the unemployment rate for oil-exporting and oil-importing countries in the MENA region. We also find that the negative changes in oil prices do not show a significant effect on the unemployment rate. Our findings are in line with predictions of the Dutch disease hypothesis. |
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| Descripción Física: | 20 Seiten |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0626 |