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How important are real interest rates for oil prices?

Arora, Vipin; Tanner, Matthew - Volkswirtschaftliche Fakultät, … - 2011

Using a recursive vector autoregression (VAR), this paper considers the relation between the U.S. real interest rate and the real oil price. Theoretically, as outlined in Hotelling (1931) and Working (1949), a lower real interest rate results in reduced production and increased storage, implying...

Persistent link: https://www.econbiz.de/10009397191

Dynamic relationships between the price of oil, gold and financial variables in Japan: a bounds testing approach

Le, Thai-Ha; Chang, Youngho - Volkswirtschaftliche Fakultät, … - 2011

This study employs the bounds testing approach to cointegration to investigate the relationships between the prices of two strategic commodities: gold and oil and the financial variables (interest rate, exchange rate and stock price) of Japan – a major oil-consuming and gold-holding country....

Persistent link: https://www.econbiz.de/10009277284

The Cost of Capital in Markets with Opaque Intermediaries and the Risk-Structure of Interest Rates

Mierzejewski, Fernando - 2009

The demand for cash balances of financial intermediaries that establish contractual liabilities with credit-sensitive customers is characterized. As stated by Merton, the success of the business activities of such firms crucially depends on their credit quality, and hence, they are obliged to...

Persistent link: https://www.econbiz.de/10013160192

Exact prediction of inflation and unemployment in Canada

Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2007

Potential links between inflation and unemployment in Canada have been examined. No consistent Phillips curve has been … between inflation, unemployment and labor force has been obtained for Canada. Similar relationships were reported previously … found likely due to strong changes in monetary policy of the Bank of Canada. However, there were two distinct periods where …

Persistent link: https://www.econbiz.de/10005623216

A win-win monetary policy in Canada

Kitov, Oleg; Kitov, Ivan - Volkswirtschaftliche Fakultät, … - 2011

unemployment to the change in the level of labour force in Canada. Inherently, our model belongs to the class of Phillips curve … uncorrelated noise and systematic errors. Our previous model of inflation and unemployment in Canada is enhanced by the … price inflation accompanied by a substantial fall in the rate of unemployment. Therefore, the new monetary policy in Canada …

Persistent link: https://www.econbiz.de/10008927057

The Future of the Fence Around the EU Labour Market

Kox, Henk L.M. - 2016

The paper investigates the welfare aspects of the European Union's restrictions on labour immigration, especially the restrictions on the free movement of medium- and low-skilled labour from outside the EU. The welfare implications of restrictive labour immigration are found to be considerable,...

Persistent link: https://www.econbiz.de/10012977681

Have U.S. Budget Deficits Raised the Real Interest Rate Yield on Tax-Free Municipal Bonds?

Cebula, Richard - Volkswirtschaftliche Fakultät, … - 2014

Using a half century of data, this empirical study adopts a simple loanable funds to investigate the impact of the budget deficits on the ex post real interest rate yield on high grade municipal bonds in the U.S. Autoregressive 2SLS estimates for the 1960-2012 study period find that the ex post...

Persistent link: https://www.econbiz.de/10011108975

Real Interest Rates, Bubbles and Monetary Policy in the GCC countries

Razzak, Weshah; Bentour, E M - Volkswirtschaftliche Fakultät, … - 2009

The Gulf Cooperation Council countries (GCC) include Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. Their monetary policy objective is to stabilize the foreign price, i.e., exchange rate instead of the domestic price level, where the nominal interest rate is equalized with the US...

Persistent link: https://www.econbiz.de/10008529275

The impact of Oil Price and Oil Price Fluctuation on Growth Exports and Inflation in Pakistan

Hasanat Shah, Syed; Li, Jun Jiang; Hasanat, Hafsa - Volkswirtschaftliche Fakultät, … - 2013

In this study we employed the ARDL bound test in order to detect cointegration relation of oil price and oil price fluctuation with GDP, exports and inflation in Pakistan. Our results confirmed cointegration among the variables when GDP was considered as dependent variable, while in case of...

Persistent link: https://www.econbiz.de/10011107799

Does the price of oil interact with clean energy prices in the stock market?

Managi, Shunsuke; Managi, Shunsuke; Okimoto, Tatsuyoshi - Volkswirtschaftliche Fakultät, … - 2013

In this paper, we analyze the relationships among oil prices, clean energy stock prices, and technology stock prices, endogenously controlling for structural changes in the market. To this end, we apply Markov-switching vector autoregressive models to the economic system consisting of oil...

Persistent link: https://www.econbiz.de/10011107845