Show simple item record

2014-10-29Buch DOI: 10.18452/4550
The Influence of Oil PriceShocks on China’s Macroeconomy
dc.contributor.authorChen, Shiyi
dc.contributor.authorChen, Dengke
dc.contributor.authorHärdle, Wolfgang Karl
dc.date.accessioned2017-06-16T01:08:41Z
dc.date.available2017-06-16T01:08:41Z
dc.date.created2015-05-07
dc.date.issued2014-10-29
dc.date.submitted2014-10-29
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/5202
dc.description.abstractInternational trade has been playing an extremely significant role in China over the last 20 years. This paper is aimed at investigating and understanding the relationship between China’smacro-economy and oil price fromthis newperspective. We find strong evidence to suggest that the increase of China’s price level, resulting fromoil price shocks, is statistically less than that of its main trade partners’. This helps us to understand the confused empirical results estimated within the SVAR framework and sheds light on recent data. More specifically, as for the empirical results, we find China’s output level is positively correlated with the oil price, and oil price shocks slightly appreciate the RMB against the US dollar. Positive correlation between China’s output and oil price shocks presumably results from the drop in China’s relative price induced by oil price shocks, which is inclined to stimulate China’s goods and service exports. The slight appreciation of the RMB could be justified by the drop in China’s relative price, which is indicated by economic theory. Moreover, constructing a simple model, our new perspective also helps us to understand the recent fact that together with the dramatic surge of the world oil price, while the oil imports of the other major countries (especially the largest oil import country US) in the world steadily decline or remain stable, China’s oil imports, in contrast, have kept rising steeply since the year 2004.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectInternational tradeeng
dc.subjectOil price shockseng
dc.subjectChina’s macro-economyeng
dc.subject.ddc310 Statistik
dc.subject.ddc330 Wirtschaft
dc.titleThe Influence of Oil PriceShocks on China’s Macroeconomy
dc.typebook
dc.subtitleA Perspectiveof International Trade
dc.identifier.urnurn:nbn:de:kobv:11-100229579
dc.identifier.doihttp://dx.doi.org/10.18452/4550
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages29
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2014
local.edoc.container-issue63
local.edoc.container-year2014
local.edoc.container-erstkatid2195055-6

Show simple item record