CRUDE OIL PRICE SHOCKS AND GROSS DOMESTIC PRODUCT

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dc.contributor.advisorJiu, Brett
dc.contributor.committeeMemberHirs, Ed
dc.contributor.committeeMemberThornton, Rebecca A.
dc.creatorHernandez, Jordan
dc.date.accessioned2012-09-28T12:55:22Z
dc.date.available2012-09-28T12:55:22Z
dc.date.createdAugust 2012
dc.date.issued2012-08
dc.date.updated2012-09-28T12:55:23Z
dc.description.abstractThis study uses ordinary least squares estimation to test multivariate models in order to find out whether or not crude oil price shocks are contractionary and negatively impact the macroeconomy. Variables are annual and pertain to different aspects of crude oil and how they affect real gross domestic product (GDP). It is predicted that increases in domestic and imported crude oil prices negatively affect real GDP by decreasing not only energy consumption but the consumption of other goods and services as well. It is found that the initial hypothesis is partially correct. While increases in imported oil prices do decrease real GDP, increases in domestic oil prices actually increase real GDP. Additionally, as predicted, consumption other than energy is affected by crude oil price shocks and causes real GDP to contract.
dc.description.departmentEconomics, Department of
dc.format.digitalOriginborn digital
dc.format.mimetypeapplication/pdf
dc.identifier.urihttp://hdl.handle.net/10657/ETD-UH-2012-08-581
dc.language.isoeng
dc.rightsThe author of this work is the copyright owner. UH Libraries and the Texas Digital Library have their permission to store and provide access to this work. Further transmission, reproduction, or presentation of this work is prohibited except with permission of the author(s).
dc.subjectCrude oil
dc.subjectPrice Shocks
dc.subjectGDP
dc.subject.lcshEconomics
dc.titleCRUDE OIL PRICE SHOCKS AND GROSS DOMESTIC PRODUCT
dc.type.dcmiText
dc.type.genreThesis
thesis.degree.collegeCollege of Liberal Arts and Social Sciences
thesis.degree.departmentEconomics, Department of
thesis.degree.disciplineEconomics
thesis.degree.grantorUniversity of Houston
thesis.degree.levelMasters
thesis.degree.nameMaster of Arts

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