Impact of the Oil Price Drop on the Czech Economy
| Autor: | Bc. Kristýna Kenšová |
|---|---|
| Rok: | 2017 - letní |
| Vedoucí: | doc. Mgr. Tomáš Holub Ph.D. |
| Konzultant: | |
| Typ práce: | Bakalářská |
| Jazyk: | Anglicky |
| Stránky: | 101 |
| Ocenění: | |
| Odkaz: | https://is.cuni.cz/webapps/zzp/detail/185529/ |
| Abstrakt: | The main focus of this thesis is on analysing the impact of the most recent oil price drop in 2014 on main macroeconomic indicators in the Czech Republic, specifically the GDP, CPI, and current account of goods. To explore the effects of falling price of oil on the Czech economy, a macroeconomic analysis is conducted, implying lower CPI caused mainly by a decrease in fuel, import and producer prices. Further, consumption and investment increased, supporting the growth of GDP, and the surplus of the external trade in goods improved. This thesis also proposes a VAR model on quarterly data from 1996 to 2016. Using the impulse responses and forecast error variance decomposition, the results presented in the macroeconomic analysis can be mostly confirmed. The findings of both of the analyses suggest that the effects of the 2014 oil price drop on the Czech economy were significant. |
