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Macroeconomic Effects of Oil Price Shocks

In: The Economics of Sustainable Development

Author

Listed:
  • Surender Kumar

    (TERI University)

  • Shunsuke Managi

    (Yokohama National University)

Abstract

After reaching a 25-year low in February 1999, oil prices have sharply been rising over the next more than a half decade. Recently, the international price of oil has breached the US$150 mark. Given the macroeconomic developments that followed the oil shocks of the 1970s, the substantial rise in oil prices since 1999 has generated concerns about the prospects for growth and inflation and raised related questions about the appropriate way for monetary and energy policies to respond.

Suggested Citation

  • Surender Kumar & Shunsuke Managi, 2009. "Macroeconomic Effects of Oil Price Shocks," Natural Resource Management and Policy, in: The Economics of Sustainable Development, chapter 13, pages 221-243, Springer.
    • Handle: RePEc:spr:nrmchp:978-0-387-98176-5_13
    DOI: 10.1007/978-0-387-98176-5_13
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    Cited by:

    1. Alom, Fardous, 2011. "Economic Effects of Oil and Food Price Shocks in Asia and Pacific Countries: An Application of SVAR Model," 2011 Conference, August 25-26, 2011, Nelson, New Zealand 115346, New Zealand Agricultural and Resource Economics Society.
    2. Haydar Karadag, 2021. "The Relationship Between Industrial Production Index, Oil Prices and Consumer Price Index in the Turkish Economy," Journal of Economic Policy Researches, Istanbul University, Faculty of Economics, vol. 8(2), pages 211-223, July.

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