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financial activity shocks disentangled from demand and oil supply shocks using sign restrictions. We obtain the following main … primarily through fundamental (supply and demand) channels rather than through financial activity. -- Oil prices ; monetary …
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information about supply cuts for identification and find that gas supply and demand shocks have large and persistent price … and positive storage demand shocks, as Germany filled its inventories before the winter. Counterfactual simulations of an …
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stock returns for a wide range of net oil-importing and oil-exporting countries. We find that precautionary demand followed … by aggregate demand-side shocks, compared to supply-side ones, have higher positive and persistent effects on the … conditional variances of stock returns for all countries. Moreover, we show that precautionary demand shocks, unlike the other …
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This paper studies the behavior of corporate bond spreads during different market regimes between 2004 and 2016. Applying a Markov-switching vector autoregressive (MS-VAR) model, we document that the dynamic impact of spread determinants varies substantially with market conditions. In periods of...
Persistent link: https://www.econbiz.de/10011979160
manufacturing output and services provision. Given positive manufacturing technology shocks, oil demand and demand for intermediate … manufactured goods as well as global trade decline in tandem. Of similar importance are shocks to final manufactured goods demand …
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