The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom
The need for oil price shocks to be understood by economists and policy makers within government is paramount, as it is such a highly used and much needed commodity in the global market place. The following research project discusses the strong relationship that oil prices share with the pricing...
| Main Author: | |
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| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2015
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| Online Access: | https://eprints.nottingham.ac.uk/29980/ |
| _version_ | 1848793896671248384 |
|---|---|
| author | Boukari, Khaled |
| author_facet | Boukari, Khaled |
| author_sort | Boukari, Khaled |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The need for oil price shocks to be understood by economists and policy makers within government is paramount, as it is such a highly used and much needed commodity in the global market place.
The following research project discusses the strong relationship that oil prices share with the pricing of everyday consumer goods/services in the United Kingdom. This is done by performing a structural vector auto-regression (SVAR) analysis using Stata, and incorporating the price of crude oil, global industrial production and the world crude oil production to represent the global market. Nine categories of the United Kingdom consumer price index, including aggregate-level pricing, were also used to represent varying types of consumer spending. Cumulative impulse response function (CIRF) graphs were produced to show how each category responded to the underlying oil price shocks.
The results indicate that the nature of an oil price shock can cause varying effects on the prices of everyday items in any economy; with the price of the same good/service being affected differently depending on the nature of the shock. |
| first_indexed | 2025-11-14T19:07:35Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-29980 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T19:07:35Z |
| publishDate | 2015 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-299802017-10-19T14:58:28Z https://eprints.nottingham.ac.uk/29980/ The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom Boukari, Khaled The need for oil price shocks to be understood by economists and policy makers within government is paramount, as it is such a highly used and much needed commodity in the global market place. The following research project discusses the strong relationship that oil prices share with the pricing of everyday consumer goods/services in the United Kingdom. This is done by performing a structural vector auto-regression (SVAR) analysis using Stata, and incorporating the price of crude oil, global industrial production and the world crude oil production to represent the global market. Nine categories of the United Kingdom consumer price index, including aggregate-level pricing, were also used to represent varying types of consumer spending. Cumulative impulse response function (CIRF) graphs were produced to show how each category responded to the underlying oil price shocks. The results indicate that the nature of an oil price shock can cause varying effects on the prices of everyday items in any economy; with the price of the same good/service being affected differently depending on the nature of the shock. 2015-09-14 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/29980/1/Dissertation%202015%20Khaled%20Boukari.pdf Boukari, Khaled (2015) The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom. [Dissertation (University of Nottingham only)] |
| spellingShingle | Boukari, Khaled The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom |
| title | The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom |
| title_full | The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom |
| title_fullStr | The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom |
| title_full_unstemmed | The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom |
| title_short | The Effects of Oil Price Shocks on Consumer Spending in the United Kingdom |
| title_sort | effects of oil price shocks on consumer spending in the united kingdom |
| url | https://eprints.nottingham.ac.uk/29980/ |