Detalle Publicación

Oil price shocks and unemployment in Central and Eastern Europe

Autores: Cuestas, J. C. (Autor de correspondencia); Gil Alaña, Luis Alberiko (Autor de correspondencia)
Título de la revista: ECONOMIC SYSTEMS
ISSN: 0939-3625
Volumen: 42
Número: 1
Páginas: 164 - 173
Fecha de publicación: 2018
The aim of this paper is to examine the effect of oil price movements on unemployment in Central and Eastern Europe. We do this by disentangling oil prices movements by their sign and from there we analyse the separate effects of positive and negative movements of oil prices on unemployment rates, We find that, although oil prices and unemployment are not correlated very much in the short run, the effect of oil price shocks on the natural rate of unemployment goes in the same direction, so that increases or decreases in oil prices increase or decrease the natural rate of unemployment.