Asymmetric impacts of oil price shocks on unemployment: Evidence from Nigeria

Akinlo A. Enisan

back

References:

[1 [1] Ahmad, F. 2013. The effect of oil prices on unemployment: evidence from Pakistan. Business and Economics Research Journal, 4(1):43-57.

[2] Altay, B., Ebru, E., and Mert, T. 2013. Oil price, output and employment in Turkey: Evidence from vector error correction model. International Journal of Energy Economics and Policy, 3: 7-13.

[3] Andreopolous, S. 2006. The real interest rate, the real oil price, and US Unemployment revisited. Ph.D dissertation at Birkbeck College, University of London, Uk.

[4] Bocklet, J., and Baek, J. 2017. Do oil price changes have symmetric or asymmetric effects on unemployment rate?: Empirical evidence from Alaska. Energy Sources. Part B: Economics, Planning, and Policy 12(1): 1-6.

[5] Brown S. P. A. and Yucel, M. K. 1999. Oil prices and the economy. Southwest Economy 4,: 1-6.

[6] Brown, S. P. A. and Yucel, M. K. 2002. Energy prices and aggregate economic activity: An interpretative study. Quarterly Review Economics and Finance 42: 193-208.

[7] Burbidge, J., and Harrison, A. 1984. Testing the effects of oil-price rises using vector autoregressions. International Economic Review, 25(2): 459-484.

[8] Cuestas, J. C., and Gil-Alana, L. 2018. Oil price shocks and unemployment in Central and Eastern Europe. Economic Systems, 42(1): 164-173.

[9] Dogrul, H. G., and Soytas, U. 2010. Relationship between oil prices, interest rate, and unemployment: evidence from an emerging market. Energy Economics 32(6):1523-1528

[10] Dohner, R. S. 1981. Energy prices, economic activity and inflation: survey of issues and results. In: Mork, K. A.(Ed.), Energy Prices, Inflation and Economic Activity. Ballinger, Cambridge, MA.

[11] Ewing, B. T. and Thompson, M. A. 2007. Dynamic cyclical co-movements of oil prices with industrial production, consumer prices, unemployment, and stock prices, Energy Policy 35: 5535-5540.

[12] Garruth, A., Hooker, M., and Oswald, A. 1998. Unemployment equilibria and input prices: theory and evidence from the United States. Review of Economics and Statistics 80: 621-628.

[13] Gisser, M., and Goodwin, T. H. 1986. Crude oil and the macroeconomy: tests of some popular notions. Journal of Money Credit and Banking 18(1):95-103.

[14] Gunu, U., and Kilishi, A. A. 2010. Oil price shocks and the Nigerian economy: a variance autoregressive (VAR) model. International Journal of Business and Management 5(8): 39-49.

[15] Hamilton, J. D. 1983. Oil and the macro economy since World War 11. Journal of Political Economy, 91: 228-248.

[16] Hamilton, J. D. 1988. A neoclassical model of unemployment and the business cycle. Journal of Political Economy 96(3):593-617.

[17] Kisswani, A. M. and Kisswani K. M. 2019. Modelling the employment-oil price nexus: a non-linear cointegration analysis for the U. S. market. Journal of International Trade & Economic Development, 1-17.

[18] Kocaarslan B., Soytas, M. A., and Soytas U. 2019. The asymmetric impact of oil prices, interest rates and oil price uncertainty on unemployment in US. SSRN Electronic Journal, 1-32.

[19] Lee, K., Ni, S., and Ratti, R. A. 1995. Oil shock and the macroeconomy: the role of price variability. Energy Journal 16(4): 39-56.

[20] Lescaroux, F., and Mignon, V. 2008. On the influence of oil prices on economic activity and other nacroeconomic and financial variables, OPEC Energy Review 32 (4): 343-380.

[21] Loschel, A., and Oberndorfer, U. 2009. Oil and unemployment in Germany. ZEW Discussion Papers, No. 08-136.

[22] Loungani, P. 1986. Oil price shocks and dispersion hypothesis. The Review of Economics and Statistics 68 (3): 536-539.

[23] Michieka, N. and Gearhart, R. 2015. Oil price fluctuations and employment in Kern country: a vector error-correction approach. Energy Policy 87: 584-590.

[24] Moller, N. F. 2013. Understanding unemployment hysteresis: a system-based econometric approach to changing equilibria and slow adjustment. Discussion Papers 13-06, University of Copenhagen, Department of Economics.

[25] Moller, N. F. 2017. How to decode unemployment persistence: an econometric framework for identifying and comparing the sources of persistence. Munich Personal RePEc Archive Paper No. 70058

[26] Monk, K. A. 1994. Business cycles and the oil market. Energy Journal 15:15-38.

[27] Mory, J. F. 1993. Oil prices and economic activity: is the relationship symmetric? The Energy Journal 14(4): 151-161.

[28] Papapetrou, E. (2001). Oil price shocks, stock market, economic activity and employment in Greece. Energy Economics 23: 511-532.

[29] Pesaran, M. H., Shin, Y., and Smith, R. J. 2001. Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16: 289-326.

[30] Rafiq, S., Salim, R. and Bloch, H. 2009. Impact of crude oil price volatility on economic activities: an empirical investigation in the Thai economy. Resources Policy 34: 121-132.

[31] Ran, J. and Voon, J. P. 2012. Does oil price shock affect small open economy? evidence from Hong Kong, Singapore, South Korea and Taiwan. Applied Economics Letters 19(16):1599-1602.

[32] Robalo, P. B. and Salvado, J. C. 2008. Oil price shocks and the Portuguese economy since 1970s. FEUNL Working Paper series no. 529.

[33] Schmidt, E. and Zimmermann, T. 2007. Why are the effects of recent oil price shocks so small? RUHR Economic Paper No. 21.

[34] Schmidt, T., and Zimmermann, T. 2005. Effects of oil price shocks on German business cycles. RWI Discussion Papers No. 31

[35] Senzangakhona, P., and Choga, I. 2015. Crude oil prices and unemployment in South Africa: 1990-2010. Mediterranean. Journal of Social Sciences. 6(2): 407-414.

[36] Shapiro, C., and Stiglitz, J. E. 1984. Equilibrium unemployment as a worker discipline device. American Economic Review 74(3):433-444.

[37] Shin, Y., Yu, C., and Greenwood-Nimmo. 2014. Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. In Festschrift in Honor of Peter Schmidt, edited by W. C. Horrace and R. C. Sickles. New York (NY): Springer Science & Business Media.

[38] Uri, N. D., 1996. Crude oil price volatility and unemployment in the United States. Energy 21(1): 29-38.

[39] Zivot, E., and Andrews, D. W. K. 1992. Further evidence in the great crash, the oil-price shock, and the unit root hypothesis. Journal of Business and Economic Statistics. 10: 251-270.

Copyright © 2009 | All rights reserved