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We develop a Bayesian Structural VAR (SVAR) model to study the relationship between different kinds of energy shocks and inflation dynamics in Europe. Specifically, we include in our specification two separate energy markets (oil and natural gas) and two target macroeconomic variables, measuring...
Persistent link: https://www.econbiz.de/10013488601
After the Soviet breakup, Central Asia has gained importance for several States because of its geographical location and abundance of hydrocarbon reserves. These hydrocarbon reserves are located mainly in three countries: Kazakhstan, Turkmenistan and Uzbekistan. Each of them has taken different...
Persistent link: https://www.econbiz.de/10011986382
Recent studies on oil market demonstrate endogeneity of oil price by modeling it as a function of consumption and precautionary demands and producers’ supply. However, studies analysing the effect of oil price uncertainty on investment, do not disentangle uncertainties raised by underlying...
Persistent link: https://www.econbiz.de/10011824181
The effect of market competition on firm innovation remains controversial, especially in the context of developing … countries. This paper presents new empirical evidence about the causal impact of competition on firm innovation for Chilean and … Colombian manufacturing firms. Using instrumental-variable estimation, our results show that market competition increases firm …
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This article studies the likely impact of unconventional gas developments in the US on EU competitiveness. We find, first of all, little evidence for a prosperous unconventional gas development in Europe. Second, the US boom has already a strong impact on both world and European energy markets....
Persistent link: https://www.econbiz.de/10010476431
The question of the spatial impacts of the Information and Communication Technology (ICT) has animated the intellectual and policy debate for a long time. At the beginning of the 1990s the rise of the Internet brought a new surge of debate: it was argued that the Internet would free the economy...
Persistent link: https://www.econbiz.de/10011591412