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Corporate Investment in Emerging Markets : Financing vs. Real Options Channel

Li, Delong - 2016

We examine how firm and country heterogeneity shape the response of corporate investment in emerging markets to changes … the costs of external borrowing and (ii) a real options channel-reflecting firms' option values to delay investment. We … find evidence of the coexistence of both channels. Financially weaker firms reduce investment by more in response to higher …

Persistent link: https://www.econbiz.de/10012998802

How Important is the Global Financial Cycle? Evidence from Capital Flows

Cerutti, Eugenio - 2018

This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...

Persistent link: https://www.econbiz.de/10012927465

The Differential Effects of Oil Demand and Supply Shocks on the Global Economy

Cashin, Paul Anthony - 2012

We employ a set of sign restrictions on the generalized impulse responses of a Global VAR-model, estimated for 38 countries/regions over the period 1979-2011Q2, to discriminate - between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic effects...

Persistent link: https://www.econbiz.de/10013098275

Transitory and Permanent Shocks in the Global Market for Crude Oil

Rebei, Nooman - 2020

This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evidence of significant differences in the propagation mechanisms of transitory versus...

Persistent link: https://www.econbiz.de/10012836533

Domestic Petroleum Product Prices and Subsidies : Recent Developments and Reform Strategies

Coady, David P. - 2007

The paper reviews recent developments in the pass-through of international to domestic petroleum product prices, in the different fuel pricing regimes, and in fuel subsidies in a range of emerging market and developing economies. The main finding of the paper is the limited price pass-through in...

Persistent link: https://www.econbiz.de/10012777198

Oil Prices and the Global Economy

Arezki, Rabah - 2017

alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of …

Persistent link: https://www.econbiz.de/10012960587

Granger Predictability of Oil Prices after the Great Recession

Benk, Szilard - 2019

Real oil prices surged from 2009 through 2014, comparable to the 1970's oil shock period. Standard explanations based on monopoly markup fall short since inflation remained low after 2009. This paper contributes strong evidence of Granger (1969) predictability of nominal factors to oil prices,...

Persistent link: https://www.econbiz.de/10012858386

The U.S. Oil Supply Revolution and the Global Economy

Mohaddes, Kamiar - 2016

This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...

Persistent link: https://www.econbiz.de/10012998782

Oil Prices and the Global Economy : Is it Different this Time Around?

Mohaddes, Kamiar - 2017

The recent plunge in oil prices has brought into question the generally accepted view that lower oil prices are good for the United States and the global economy. In this paper, using a quarterly multi-country econometric model, we first show that a fall in oil prices tends relatively quickly to...

Persistent link: https://www.econbiz.de/10012948538

Oil Price Volatility and the Role of Speculation

Beidas-Strom, Samya - 2015

model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and …

Persistent link: https://www.econbiz.de/10013028690

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