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Impact of Oil Price Volatility on Macroeconomic Variables (A Case Study of Pakistan)

Author

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  • Muhammad Usman
  • Raja Mohsin Nawaz
  • Mujtaba Qayyum

Abstract

This study examines the impact of oil price volatility on macroeconomic variables of the economy of Pakistan. We employed the Glosten, Jagannathan and Runkle (GJR) and Vector Autoregressive (VAR) models. The outcomes of the GJR model show the symmetric effect of oil price shock on conditional variance. Whereas Impulse Response Functions (IRFs) show the hostile effect on the employment and the output. Although the oil price uncertainty affects the consumption but declining image is less severe. The trade deficit and consumer price index rise due to negative oil price shock in the long run.

Suggested Citation

  • Muhammad Usman & Raja Mohsin Nawaz & Mujtaba Qayyum, 2011. "Impact of Oil Price Volatility on Macroeconomic Variables (A Case Study of Pakistan)," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 1(2), pages 16-21.
    • Handle: RePEc:asi:joabsj:v:1:y:2011:i:2:p:16-21:id:3996
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    Cited by:

    1. AIGHEYISI Oziengbe Scott, 2018. "Oil Price Volatility And Business Cycles In Nigeria," Studies in Business and Economics, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 13(2), pages 31-40, August.

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