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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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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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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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The impact of geopolitical risk on stock returns : evidence from inter-Korea geopolitics
Jung, Seungho; Lee, Jongmin; Lee, Seohyun - 2021
We investigate how corporate stock returns respond to geopolitical risk in the case of South Korea, which has … risk from North Korea (the GPRNK index) is constructed using automated keyword searches in South Korean media. The GPRNK … index, designed to capture both upside and downside risk, corroborates that geopolitical risk sharply increases with the …
Persistent link: https://www.econbiz.de/10012796347
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Volatility of Oil Prices
Wickham, Peter - 1996
This paper examines the behavior of crude oil prices since 1980, and in particular the volatility of these prices. The …
Persistent link: https://www.econbiz.de/10014396128
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Oil prices and the global economy
Arezki, Rabah; Jakab, M. Zoltán; Laxton, Douglas; … - 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/10011716465
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Oil Windfalls in Ghana : A DSGE Approach
Dagher, Jihad - 2010
We use a calibrated multi-sector DSGE model to analyze the likely impact of oil windfalls on the Ghanaian economy, under alternative fiscal and monetary policy responses. We distinguish between the short-run impact, associated with demand-related pressures, and the medium run impact on...
Persistent link: https://www.econbiz.de/10014402869