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Oil and Iron Ore Price Shocks: What Are the DifferentEconomic Effects in Australia?

Hoang, Nam T; Nguyen, Bao

Description

This paper compares the macroeconomic effects of global oil and iron ore price shocks on the Australian economy. Using a Bayesian structural vector autoregression model with sign restrictions, we identify three types of shock: supply, demand and specific demand. The main results suggest that, over the period from 1990Q1 to 2014Q4, the oil shock had a relative larger impact than the iron ore shock on output and inflation, while the iron ore shock was the dominant source of interest and exchange...[Show more]

CollectionsANU Research Publications
Date published: 2018
Type: Journal article
URI: http://hdl.handle.net/1885/164079
Source: Economic Record
DOI: 10.1111/1475-4932.12398

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