In contrast to the majority of studies which focus primarily on oil‐importing countries in describing the mechanism by which oil price shocks affect economic activities, this study focuses on oil‐exporting countries. Saudi Arabia is taken as a key example in considering two macroeconomic variables: economic growth and unemployment. This study examines changes in these variables in terms of the effects of two types of disturbances: demand and supply, following Blanchard and Quah’s (American Economic Review 1989; 79: 655) approach. The findings of impulse response analysis and variance decomposition indicate that oil price shocks play a key role in the fluctuations in economic growth and unemployment in the Saudi economy.

中文翻译：

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石油价格冲击对宏观经济的影响：沙特阿拉伯的经济增长和失业

与大多数主要侧重于石油进口国的研究描述油价冲击影响经济活动的机制相反，本研究侧重于石油出口国。沙特阿拉伯被视为考虑两个宏观经济变量的关键例子：经济增长和失业。这项研究根据Blanchard和Quah（美国经济评论1989； 79：655）方法的两种类型的干扰：需求和供给的影响，研究了这些变量的变化。冲激响应分析和方差分解的结果表明，石油价格冲击在沙特经济增长和失业的波动中起着关键作用。