The role of monetary transmission channels in transmitting oil price shocks to prices in ASEAN-4 countries during pre- and post-global financial crisis
作者: Fatemeh RazmiM. AzaliLee ChinMuzafar Shah Habibullah
作者单位: 1Department of Economics, Faculty of Economics and Management, Universiti Putra Malaysia, Malaysia
刊名: Energy, 2016, Vol.101 , pp.581-591
来源数据库: Elsevier Journal
DOI: 10.1016/j.energy.2016.02.036
关键词: Oil price shockInterest rateExchange rateDomestic creditStock priceMonetary transmission
原始语种摘要: Abstract(#br)This paper examines the vulnerability of domestic prices against oil price shocks by considering the direct and indirect effects of oil price on consumer price index, which occur through the known channels of the monetary transmission mechanism. We consider interest rate, exchange rate, domestic credit, and share price during the periods before and after the global crisis of 2007–2009 in the ASEAN-4 (Association of Southeast Asian Nations- Indonesia, Malaysia, the Philippines and Thailand) countries. Using the structural vector auto regression model and monthly data (2002 month 1–2013 month 4), the results indicate that pre-crisis—with the exception of Indonesia, which is not much influenced by oil prices—there is no indirect influence, but there is a considerable direct...
全文获取路径: Elsevier  (合作)
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来源刊物:
影响因子:3.651 (2012)

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关键词翻译
关键词翻译
  • prices 行情
  • monetary 金融
  • crisis 危机
  • financial 财政的
  • global 球状的
  • ASEAN 东盟
  • during 在的期间
  • transmission 传送
  • transmitting 发送