Since petroleum is a kind of exhaustive resource, it can not be
regenerated after being consumed. And petroleum is distributed
extremely uneven in the world, more than half of petroleum is
distributed in the Middle East area. In the recent years, the oil
price was so fluctuating and broke the record again and again.
However, the productivity of petroleum in Taiwan is very low and
we are a price taker. So it turns to be important that how the
oil price affects the economy. According to Economics, high oil
price often causes the staginflation. In the purpose of this study
we examine the long run relationship between oil price and
personal income in Taiwan by cointegration theory. And we find
that there indeed exists a negative longrun relationship. In
addition, we consider a nonlinear model, Threshold Vector Error
Correction Model, to test a threhold effect in the long run
relationship between variables. Finally we have a result that
there is a threshold cointegrating relationship between the oil
price and personal income in Taiwan.
| Identifer | oai:union.ndltd.org:NSYSU/oai:NSYSU:etd-0627107-130810 |
| Date | 27 June 2007 |
| Creators | Wang, Yu-wun |
| Contributors | Ming-jang Weng, Ching-nun Lee, Chun-chieh Wang |
| Publisher | NSYSU |
| Source Sets | NSYSU Electronic Thesis and Dissertation Archive |
| Language | Cholon |
| Detected Language | English |
| Type | text |
| Format | application/pdf |
| Source | http://etd.lib.nsysu.edu.tw/ETD-db/ETD-search/view_etd?URN=etd-0627107-130810 |
| Rights | restricted, Copyright information available at source archive |
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