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Looking Beyond the Fiscal : Do Oil Funds Bring Macreconomic Stability?
Shabsigh, Ghiath - 2007
reduce macroeconomic volatility. The econometric estimation results from a 30-year panel data set of 15 countries with and … without oil funds suggest that oil funds are associated with reduced volatility of broad money and prices and lower inflation …. However, there is a statistically weak negative association between the presence of an oil fund and volatility of the real …
Persistent link: https://www.econbiz.de/10014400575
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Oil prices and the global economy : is it different this time around?
Mohaddes, Kamiar; Pesaran, M. Hashem - 2016
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/10011715551
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Transitory and permanent shocks in the global market for crude oil
Rebei, Nooman; Sbia, Rashid - 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/10012251290
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World Crude Oil Markets : Monetary Policy and the Recent Oil Shock
Krichene, Noureddine - 2006
interest rates led to high oil price volatility in 2005. Data shows that world economic growth and price stability require …This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model …
Persistent link: https://www.econbiz.de/10014400520
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The Macroeconomic Effects of Higher Oil Prices
Isard, Peter - 2001
The paper uses MULTIMOD to analyze the macroeconomic effects of oil price shocks, distinguishing between temporary, more persistent, and permanent shocks. It provides perspectives on several findings in the literature and the key role of monetary policy in influencing macroeconomic outcomes....
Persistent link: https://www.econbiz.de/10014403624
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A Barrel of Oil or a Bottle of Wine : How Do Global Growth Dynamics Affect Commodity Prices?
Saadi Sedik, Tahsin - 2011
This paper investigates the causes of extreme fluctuations in commodity prices from 1990 to 2010. Analyzing two very distinct commodities-crude oil and fine wine, we find that macroeconomic factors are the main determinants of commodity prices. Although supply constraints have the expected...
Persistent link: https://www.econbiz.de/10014403684
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Peaks, Spikes, and Barrels : Modeling Sharp Movements in Oil Prices
Pant, Malika - 2010
unusual volatility. Those emphasizing fundamentals point to inelastic supply and demand curves, others view the phenomenon …
Persistent link: https://www.econbiz.de/10014403156
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Commodity price volatility and the sources of growth
Cavalcanti, Tiago; Mohaddes, Kamiar; Raissi, Mehdi - 2012
Persistent link: https://www.econbiz.de/10009424700
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Precautionary savings and global imbalances in world general equilibrium
Sandri, Damiano - 2011
Persistent link: https://www.econbiz.de/10009425659
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Soft power and exchange rate volatility
Cevik, Serhan; Harris, Richard D. F.; Yilmaz, Fatih - 2015
, institutional, political and social underpinnings to uncover the 'missing' determinants of exchange rate volatility over time and … volatility, especially in emerging market economies. After controlling for standard macroeconomic factors, we find that the 'soft … volatility across countries …
Persistent link: https://www.econbiz.de/10011281975