Macroeconomic effects of oil price shocks in a small open economy.
Date of Issue2009
School of Humanities and Social Sciences
The thesis studies the macroeconomic effects of oil price shocks using a dynamic stochastic general equilibrium (DSGE) model in the context of a small open economy. It examines the role of exchange rate flexibility in smoothing the adjustments of the economy to oil price shocks and provides a possible explanation to the different responses of the economy to similar oil price changes during the 1970s and after the 1980s. The thesis has three essays.
Nanyang Technological University