Oil Price Fluctuations and it Impact on Economic Growth: A DSGE Approach.

Bondzie, Eric Amoo; Bartolomeo, Giovanni Di; Fosu, Gabriel Obed

doi:10.2139/ssrn.2729833

Cited by 5 publications

(4 citation statements)

References 26 publications

(16 reference statements)

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“…As shown in the literature review section, government spending is heavily dependent on the oil sector in oil exporting countries, (some indicative studies include Dées et al, 2008;Farzanegan and Markwardt, 2009;Hamdi and Sbia, 2013). Therefore, the government spending behaviour can be significantly changed based on any change in oil prices and associated increase or decrease in oil price volatility (Fasano-Filho and Wang, 2002;Bondzie et al, 2014;Pazouki and Pazouki, 2014). Fig.…”

Section: General Government Spending (% Of Gdp)mentioning

confidence: 99%

The Dynamic Impact Among Oil Dependence Volatility, the Quality of Political Institutions, and Government Spending

Pazouki¹,

Zhu

2022

SSRN Journal

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Section: General Government Spending (% Of Gdp)mentioning

confidence: 99%

The Dynamic Impact Among Oil Dependence Volatility, the Quality of Political Institutions, and Government Spending

Pazouki¹,

Zhu

2022

SSRN Journal

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“…Pop [8] used a DSGE model to analyze the relation between inflation and monetary policy in Romania, an emerging economy. Bondzie et al [9] studied the oil price fluctuations and the relevant influence on the economic growth based on a DSGE approach. Smets and Wouters [10] investigated the business cycle of US economy and estimated a DEGE model using Bayesian methods [11,12].…”

Section: Literature Reviewmentioning

confidence: 99%

A Sustainable Economic System to Face the Fluctuation of Fruit Prices: Based on a Small-Region DSGE Model

Fang

Pan

2021

Discrete Dynamics in Nature and Society

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This paper builds a new small-scale and regionalization DSGE model that focuses on the sustainable economic system, which was estimated by the Bayesian estimation method using Chinese annual data from 2004 to 2017 to analyze the effect of the fluctuation of fruit prices in Hainan. We find the fluctuation of increasing prices has a negative effect on fruit output. This results in a preference to loosen monetary policy to reduce this influence and then results in price inflation, which will lead to the increase in output and prices simultaneously. Based on our findings, we provide suggestions for policy maker such as the optimization of industrial structures and increased investment in the fruit industry, extending the fruit industry chain and establishing a multifruit industry sustainable economic system.

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“…In another related study, the impact of oil price fluctuation on the Ghanaian economy was investigated byBondzie, Bertolomeo and Fosu [20]. Based on the features of its economy, they employed dynamic stochastic general equilibrium (DSGE) model and their results show a persistent effect of world oil price and monetary policy shocks on economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Oil Price Shocks and Inflation Dynamics in Nigeria: Sensitivity of Unit Root to Structural Breaks

Odionye¹,

Ukeje²,

Odo³

2019

IJBER

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Motivated by the prevalence of misleading inference in time series occasioned by failure to account for structural breaks in series as volatile as oil price in Nigerian specific studies, this study sought to find out whether structural breaks matter in studying the response of inflation to oil price shocks. The study employed Zivot-Andrews unit root test with structural break to compare the unit root result with the conventional ADF result while the local projection impulse response function (LPIRF) was used to determine the response of inflation dynamics to oil price shocks in Nigeria from 1981 to 2016. The unit root test shows that failure to account for structural break in unit root of a volatile series can produce wrong inference. The LPIRF results suggestedthat inflation responds significantly to oil price shocks and that there exists a higher persistence level of oil price shocksin exchange rate than inflation. Furthermore, the counterfactual result conditioned on global oil market behavior shows that inflation responds significantly to oil price due to global oil market behavior.

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Oil Price Fluctuations and it Impact on Economic Growth: A DSGE Approach.

Abstract: Ghana is poised to be one of the fastest growing economies in Sub-

Cited by 5 publications

References 26 publications

The Dynamic Impact Among Oil Dependence Volatility, the Quality of Political Institutions, and Government Spending

The Dynamic Impact Among Oil Dependence Volatility, the Quality of Political Institutions, and Government Spending

A Sustainable Economic System to Face the Fluctuation of Fruit Prices: Based on a Small-Region DSGE Model

Oil Price Shocks and Inflation Dynamics in Nigeria: Sensitivity of Unit Root to Structural Breaks

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