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What is the role of financial speculation in determining the real oil price? We find that while macroeconomic shocks have been the major upward driver of the real oil price since the mid 1980s, also financial shocks have sizably contributed since the early 2000s, and at a much larger extent...
Persistent link: https://www.econbiz.de/10009506394
This paper provides an analysis of the link between the oil market and the U.S. stock market returns at the aggregate as well as industry levels. We empirically model oil price changes as driven by speculative demand shocks along with consumption demand and supply shocks in the oil market. We...
Persistent link: https://www.econbiz.de/10011391816
This study investigates the price volatility of metals, using the GARCH and GJR models. First we examine the persistence of volatility and the leverage effect across metal markets taking into account the presence of outliers, and second we estimate the effects of oil price shocks on the price...
Persistent link: https://www.econbiz.de/10011327443
This study investigates the effects of oil price shocks on volatility of selected agricultural and metal commodities. To achieve this goal, we decompose an oil price shock to its underlying components, including macroeconomics and oil specific shocks. The applied methodology is the structural...
Persistent link: https://www.econbiz.de/10011438674
Persistent link: https://www.econbiz.de/10011507277
precautionary demands and producers’ supply. However, studies analysing the effect of oil price uncertainty on investment, do not … relationship between investment and uncertainty for a panel of U.S. firms operating in oil and gas industry with a new approach. We … other determinants, to study whether investment uncertainty relationship depends on the drivers of uncertainty. Our findings …
Persistent link: https://www.econbiz.de/10011824181
Persistent link: https://www.econbiz.de/10013169329
regional economy-wide and poverty impacts of a US$36 million investment in tourism in the south of Haiti. The first social … representative household configuration to enable more robust analysis of tourism investment impacts on poverty and income inequality … evaluation of trade-offs between investment alternatives. Results of this analysis showed a positive impact on sectoral activity …
Persistent link: https://www.econbiz.de/10011431387
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