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Efectos de los choques petroleros sobre las economías de Centroamérica y la República Dominicana

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Author Info
Guerrero, Carlos () (Tecnológico de Monterrey, Campus Ciudad de México)
Urzúa, Carlos M. () (Tecnológico de Monterrey, Campus Ciudad de México)

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Abstract

This document analyzes the effects of recent oil shocks on the economies of Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. The general results are as follows. First, oil demand responded elastically to economic activity, and was almost perfectly inelastic to its relative price. Second, statistical analysis suggests that in most cases oil shocks affected economic activity negatively, and pushed prices up. And third, after the increases in the oil price, the corresponding monetary policies tended to be restrictive.

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File URL: http://alejandria.ccm.itesm.mx/egap/documentos/EGAP-2007-01.pdf
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Publisher Info
Paper provided by Tecnológico de Monterrey, Campus Ciudad de México in its series EGAP Working Papers with number 2007-01.

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Date of creation: Sep 2006
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Handle: RePEc:ega:docume:200701

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Web page: http://www.ccm.itesm.mx/egap/
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Related research
Keywords: Guatemala; Salvador; Honduras; Nicaragua; Costa Rica; Dominicana; choques petroleros; inflación; petróleo; consumo; hidrocarburos; oil shocks; oil demand; inflation; VAR models;

Find related papers by JEL classification:
O54 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply
Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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