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The Volatility Curse : Revisiting the Paradox of Plenty
van der Ploeg, Rick - 2013
The volatility of unanticipated output growth in income per capita is detrimental to long-run development, controlling …. This effect is significant and robust over a wide range of specifications. We unravel the effects of volatility by opening … dependence, physical and institutional barriers to trade and associated policy shocks increase volatility sharply and harm growth …
Persistent link: https://www.econbiz.de/10012753136
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Saving Alberta's Resource Revenues : Role of Intergenerational and Liquidity Funds
Van Den Bremer, Ton - 2016
cope with oil price volatility. The ongoing dividend equals approximately 30 per cent of government revenue and requires …
Persistent link: https://www.econbiz.de/10012979602
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Oil Price Uncertainty and Sectoral Stock Returns in China : A Time-Varying Approach
Caporale, Guglielmo Maria - 2014
suggests that oil price volatility affects stock returns positively during periods characterised by demand-side shocks in all …
Persistent link: https://www.econbiz.de/10013050468
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A Characterization of Oil Price Behavior - Evidence from Jump Models
Gronwald, Marc - 2021
This paper is concerned with the statistical behavior of oil prices in two ways. It, firstly, applies a combined jump GARCH in order to characterize the behavior of daily, weekly as well as monthly oil prices. Secondly, it relates its empirical results to implications of Hotelling-type resource...
Persistent link: https://www.econbiz.de/10013315950
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Oil Prices and GCC Stock Markets : New Evidence from Smooth Transition Models
Ben Cheikh, Nidhaleddine - 2018
Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results reveal that GCC stock markets do not have similar sensitivities to oil price...
Persistent link: https://www.econbiz.de/10012914946
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Macroeconomic Uncertainty and the Impact of Oil Shocks
Van Robays, Ine - 2014
production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price … volatility. Also the impact of oil shocks on economic activity appears to be significantly stronger in uncertain times …
Persistent link: https://www.econbiz.de/10013065379
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Cross-Country Differences in the Effects of Oil Shocks
Peersman, Gert - 2014
We compare the economic consequences of several types of oil shocks across a set of industrialized countries that are structurally very diverse with respect to the role of oil and other forms of energy in their economy. We find considerably different effects across countries, which crucially...
Persistent link: https://www.econbiz.de/10013068762
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Fuel Efficiency Improvements - Feedback Mechanisms and Distributional Effects in the Oil Market
Aune, Finn Roar - 2015
We study the interactions between fuel efficiency improvements in the transport sector and the oil market, where the efficiency improvements are policy-induced in certain regions of the world. We are especially interested in feedback mechanisms of fuel efficiency such as the rebound effect,...
Persistent link: https://www.econbiz.de/10013015360
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How the Tight Oil Boom Has Changed Oil and Gasoline Markets
Kilian, Lutz - 2017
Starting in late 2008, the U.S. production of tight oil surged, causing a renaissance in the U.S. oil sector that few industry analysts had anticipated. This tight oil boom reduced the dependence of the United States on petroleum imports and allowed it to become a major exporter of gasoline and...
Persistent link: https://www.econbiz.de/10012960095
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The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Kilian, Lutz - 2021
This article examines how the shale oil revolution has shaped the evolution of U.S. crude oil and gasoline prices. It puts the evolution of shale oil production into historical perspective, highlights uncertainties about future shale oil production, and cautions against the view that the U.S....
Persistent link: https://www.econbiz.de/10013315512