Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its … mainstream economists to understand the differences between alternative oil market models, let alone the basis for the sometimes … is on the econometric foundations of the analysis of oil market models with special attention to the identifying …

inflation. Hence, the initial response of inflation to monetary shocks is not sufficient to discriminate across models and for …

dynamics of oil price volatility by examining interactions between oil market and exchange rate in selected MENA countries …) to examine the presence of volatility spillover between oil prices and exchange rates return series. The econometric … rates, and ii) there is significant evidence of volatility spillovers from oil markets to exchange rate markets in the …

an uncertainty shock. We find a significantly stronger response of real activity in recessions. Counterfactual …

rate policy helps to reconcile the inflation and output persistence with empirical observations for the US economy. We show … findings for the inflation inertia in a model with capital adjustment costs and variable capacity utilization, the output … response to an interest shock is found to be too large and no longer hump-shaped in this case. In addition we find that the …

This paper examines the asymmetric impact of economic policy uncertainty (EPU) and oil price uncertainty (OPU) on … inflation by using a Nonlinear ARDL (NARDL) model, which is compared to a benchmark linear ARDL one. Using monthly data from the …, especially negative ones, have a stronger impact on inflation than OPU ones and capture some of the monetary policy uncertainty …

There has been much interest in the relationship between the price of crude oil, the value of the U.S. dollar, and the … U.S. interest rate since the 1980s. For example, the sustained surge in the real price of oil in the 2000s is often … between the interest rate and the exchange rate, but also because demand and supply shocks in the oil market in turn may …

models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using … the SPR contributed to the variability in the real price of oil? Second, how much would a one-time exogenous reduction in … the SPR lower the real price of oil? Third, are exogenous SPR releases partially or fully offset by increases in private …

This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand … conclusion that the one-month oil supply elasticity is close to zero, which implies that oil demand shocks are the dominant … driver of the real price of oil. The focus of this paper is not only on correcting some misunderstandings in the recent …