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calculate the marginal cost and marginal analysis for the following table calculate the answers and insert them into the shaded
during the 1990s technological advance reduced the cost of computer chips explain with the use supply and demand diagrams how the following markets
derive the following equilibrium for the is-lm model
however these results should be approached with due caution the limitations and problems associated with var modelling have been outlined in this
it was observed that following a one standard deviation shock to the price of oil interest rates rose sharply immediately afterwards reaching a
as previously stated the aim of the paper is to observe and analyse the effects of oil price shocks on key macroeconomic indicators in the uk economy
from the lower left graph of fig it can be seen that there is a time lag associated with an oil price shock and its subsequent effect on unemployment
the rate of interest in the uk also showed very interesting results to an impulse shock on oil price the middle left graph from fig 44 shows the
furthermore it can be seen that there are interesting relationships between the remaining variables firstly at the 95 significance level it can be
from tables 3a to 3f in the appendix the results from varblock exogeneity granger causality test are that the oil price variable does granger cause
lag length criteria var lag order selection criteria endogenous variables oil exch r rpi lunemp gdp exogenous
table summary of results from the adf testtest numberoilgdpinterest rateinflationunemploymentexchange
the final and most important part of the methodology is the impulse response functions which will provide the most information with regards to the
with the aim of this project to observe the impact of oil price shocks on macroeconomic indicators testing for causality between these variables will
from estimating the aforementioned unrestricted var a table of coefficient and statistics will be produced from this table certain statistical
in order to estimate avar alag length must be used in the estimation there are many different criteria which can be used to signal the ideal lag
since their inception var models have been at the centre of many controversies associated with econometric modelling the recurring criticism
the estimated statistics from the var model are not able to be interpreted to solve the problem of this coursework due to reasons that are discussed
table below shows the descriptive statistics which have been condensed from the data sheet for the period 1987 q4 to 2011 q3 gdp real exchange
interest rates r - i feel that it is important to include a variable which represents the monetary sector of the economy because those inflationary
inflation rpi - another imperative channel oil is a necessity for the uk and is price inelastic therefore one can analyse the correlation between a
real exchange rates exch is the next variable that will be analysed in this var the reason for including exchange rates in the var is that they are
gdp is an important indicator of a nations economic performance it has many components which contribute to the growth of the economy oil is a minor
in order to estimate the var i have firstly to specify the data which will be analysed as it is my aim to observe the correlations between oil prices
there are many other macroeconomic indicators which one might expect to be affected following an oil price hike perhaps more obviously affected than