{"title":"衡量油价对中国经济的影响:一个因子增强向量自回归方法","authors":"F. Lescaroux, V. Mignon","doi":"10.1111/j.1468-0106.2009.00457.x","DOIUrl":null,"url":null,"abstract":"The aim of this paper is to investigate the impacts of oil prices on the Chinese economy. To this end, we rely on the factor-augmented vector autoregressive methodology, which allows us to evaluate the response of various macroeconomic variables to an oil price shock. Our results suggest that an oil price shock leads to: (i) a contemporaneous increase in consumer and producer price indexes, inducing a rise in interest rates; (ii) a delayed negative impact on GDP, investment and consumption; and (iii) a postponed increase in coal and power prices. Copyright 2009 The Authors. Journal compilation 2009 Blackwell Publishing Asia Pty Ltd","PeriodicalId":134313,"journal":{"name":"Wiley-Blackwell: Pacific Economic Review","volume":"189 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2009-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"44","resultStr":"{\"title\":\"Measuring the Effects of Oil Prices on China's Economy: A Factor-Augmented Vector Autoregressive Approach\",\"authors\":\"F. Lescaroux, V. Mignon\",\"doi\":\"10.1111/j.1468-0106.2009.00457.x\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"The aim of this paper is to investigate the impacts of oil prices on the Chinese economy. To this end, we rely on the factor-augmented vector autoregressive methodology, which allows us to evaluate the response of various macroeconomic variables to an oil price shock. Our results suggest that an oil price shock leads to: (i) a contemporaneous increase in consumer and producer price indexes, inducing a rise in interest rates; (ii) a delayed negative impact on GDP, investment and consumption; and (iii) a postponed increase in coal and power prices. Copyright 2009 The Authors. Journal compilation 2009 Blackwell Publishing Asia Pty Ltd\",\"PeriodicalId\":134313,\"journal\":{\"name\":\"Wiley-Blackwell: Pacific Economic Review\",\"volume\":\"189 1\",\"pages\":\"0\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2009-08-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"44\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Wiley-Blackwell: Pacific Economic Review\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1111/j.1468-0106.2009.00457.x\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Wiley-Blackwell: Pacific Economic Review","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/j.1468-0106.2009.00457.x","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Measuring the Effects of Oil Prices on China's Economy: A Factor-Augmented Vector Autoregressive Approach
The aim of this paper is to investigate the impacts of oil prices on the Chinese economy. To this end, we rely on the factor-augmented vector autoregressive methodology, which allows us to evaluate the response of various macroeconomic variables to an oil price shock. Our results suggest that an oil price shock leads to: (i) a contemporaneous increase in consumer and producer price indexes, inducing a rise in interest rates; (ii) a delayed negative impact on GDP, investment and consumption; and (iii) a postponed increase in coal and power prices. Copyright 2009 The Authors. Journal compilation 2009 Blackwell Publishing Asia Pty Ltd
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