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An estimation of oil prices effect on household consumption in Sweden

Al-Tai, Milad LU (2015) NEKH01 20142
Department of Economics
Abstract
This study uses a vector autoregressive (VAR) model to examine the impact of oil prices on household final consumption expenditure in Sweden. Due to that international oil prices have been falling since mid-2014, and due to Sweden’s assumed decreased oil dependency, it is of interest to estimate this effect, and whether it has reduced. The empirical results suggest that the price of oil does significantly affect household consumption in Sweden. It is indicated that an increase in international oil prices is associated with a decrease in household consumption. Furthermore, there are indications that the effect of oil prices on consumption was higher before the mid-1990s than in succeeding periods.
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author
Al-Tai, Milad LU
supervisor
organization
course
NEKH01 20142
year
type
M2 - Bachelor Degree
subject
keywords
oil prices, VAR model, household, consumption, Sweden
language
English
id
5114965
date added to LUP
2015-02-26 11:08:58
date last changed
2015-02-26 11:08:58
@misc{5114965,
  abstract     = {This study uses a vector autoregressive (VAR) model to examine the impact of oil prices on household final consumption expenditure in Sweden. Due to that international oil prices have been falling since mid-2014, and due to Sweden’s assumed decreased oil dependency, it is of interest to estimate this effect, and whether it has reduced. The empirical results suggest that the price of oil does significantly affect household consumption in Sweden. It is indicated that an increase in international oil prices is associated with a decrease in household consumption. Furthermore, there are indications that the effect of oil prices on consumption was higher before the mid-1990s than in succeeding periods.},
  author       = {Al-Tai, Milad},
  keyword      = {oil prices,VAR model,household,consumption,Sweden},
  language     = {eng},
  note         = {Student Paper},
  title        = {An estimation of oil prices effect on household consumption in Sweden},
  year         = {2015},
}