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Efectos de los choques petroleros sobre las economías de Centroamérica y la República Dominicana

Author

Listed:
  • Guerrero, Carlos

    (Tecnológico de Monterrey, Campus Ciudad de México)

  • Urzúa, Carlos M.

    (Tecnológico de Monterrey, Campus Ciudad de México)

Abstract

This document analyzes the effects of recent oil shocks on the economies of Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, and Nicaragua. The general results are as follows. First, oil demand responded elastically to economic activity, and was almost perfectly inelastic to its relative price. Second, statistical analysis suggests that in most cases oil shocks affected economic activity negatively, and pushed prices up. And third, after the increases in the oil price, the corresponding monetary policies tended to be restrictive.

Suggested Citation

  • Guerrero, Carlos & Urzúa, Carlos M., 2006. "Efectos de los choques petroleros sobre las economías de Centroamérica y la República Dominicana," EGAP Working Papers 2007-01, Tecnológico de Monterrey, Campus Ciudad de México.
    • Handle: RePEc:ega:docume:200701
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    File URL: http://alejandria.ccm.itesm.mx/egap/documentos/EGAP-2007-01.pdf
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    Keywords

    Guatemala; Salvador; Honduras; Nicaragua; Costa Rica; Dominicana; choques petroleros; inflación; petróleo; consumo; hidrocarburos; oil shocks; oil demand; inflation; VAR models;
    All these keywords.

    JEL classification:

    • O54 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Latin America; Caribbean
    • Q31 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Demand and Supply; Prices
    • Q38 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Government Policy (includes OPEC Policy)

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