Disturbances in the international price of oil and effects in Greece
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Date
2023-09
Authors
Ηλιοπούλου, Βασιλική
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Abstract
Global oil prices are a pivotal economic driver with ramifications for both oil- exporting and importing countries. This thesis ventures into the under-explored domain of the impacts of oil price fluctuations on Greece’s labor market. Draw- ing on both macroeconomic and microeconomic theories, we investigate how these disturbances affect domestic inflation and bring about differentiated consequences across sectors, skill levels, regions, and demographics in Greece’s workforce. De- spite the abundance of global empirical research on the topic, focused studies on Greece remain sparse. Our research aims to bridge this gap, leveraging time-series, cross-sectional, and differences analyses, bolstered by qualitative insights. The ob- jective is to provide a holistic understanding of Greece’s labor market vulnerability to oil price shocks, potentially guiding the formulation of policies that can insulate and fortify the nation against such external economic perturbations.
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Keywords
Global oil prices, Oil price fluctuations, Labor market, Oil market volatility