TY - JOUR
T1 - The impact of oil prices on income and energy
AU - Glasure, Yong U.
AU - Lee, Aie Rie
PY - 2002/5
Y1 - 2002/5
N2 - The major determinant of real income growth in Korea is real oil prices, followed by money supply, exchange rates, energy consumption, and government spending. Over the longer horizon, the effects of exchange rates, oil prices, government spending, and money supply become more pronounced. For energy consumption, the most important factor is oil prices, followed by exchange rates, government spending, money supply, and income. For the association between energy consumption and real income, energy consumption influences real income growth only through energy consumption, while real income affects energy consumption only through the error correction term. The findings of the study thus suggest that the level of economic activity and energy consumption mutually influence each other. (JEL, Q43, O53).
AB - The major determinant of real income growth in Korea is real oil prices, followed by money supply, exchange rates, energy consumption, and government spending. Over the longer horizon, the effects of exchange rates, oil prices, government spending, and money supply become more pronounced. For energy consumption, the most important factor is oil prices, followed by exchange rates, government spending, money supply, and income. For the association between energy consumption and real income, energy consumption influences real income growth only through energy consumption, while real income affects energy consumption only through the error correction term. The findings of the study thus suggest that the level of economic activity and energy consumption mutually influence each other. (JEL, Q43, O53).
UR - http://www.scopus.com/inward/record.url?scp=35649025986&partnerID=8YFLogxK
U2 - 10.1007/BF02295345
DO - 10.1007/BF02295345
M3 - Article
AN - SCOPUS:35649025986
SN - 1083-0898
VL - 8
SP - 148
EP - 154
JO - International Advances in Economic Research
JF - International Advances in Economic Research
IS - 2
ER -