| Author: | Nandakumar, P. |
| Title: | Oil price increases and the structure of small open economies |
| Journal: | Weltwirtschaftliches Archiv
1988 : VOL. 124:4, p. 653-666 |
| Index terms: | EQUILIBRIUM ANALYSIS OIL PRICES OPEN ECONOMY |
| Language: | eng |
| Abstract: | Adjustment of four OECD countries to the second oil price shock is analysed in the framework of a simulation model. Structural differences as for dependence on oil, labour intensity, technologic disparity between sectors, the composition of consumption cause differences in employment and production from one country to the other.The positive effect of real wage decrease is also uneven. The smaller the size of the public sector, the better the chances of containing the oil shock. |
SCIMA