Authors

• Juncal Cunado (jcunado@unav.es)
  School of Economics and Business Administration, University of Navarra
• Fernando Pérez de Gracia (fgracia@unav.es)
  School of Economics and Business Administration, University of Navarra

Abstract
In this paper we study the oil prices-macroeconomy relationship by means of studying the impact of oil price shocks on both economic activity and consumer price indexes for six Asian countries over the period 1975Q1-2002Q2. The results suggest that oil prices have a significant effect on both economic activity and price indexes although the impact is limited to the short-run and more significant when oil price shocks are defined in local currencies. Moreover, we find evidence of asymmetries in the oil prices-macroeconomy relationship for some of the Asian countries.

Classification JEL:E32; Q43; O53

Number of Pages:36

Creation Date:2004-04-01

Number:null/04