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Oil Price Volatility, Economic Growth and the Hedging Role of Renewable Energy
Rentschler, Jun E. - 2017
This paper investigates the adverse effects of oil price volatility on economic activity and the extent to which … countries can hedge against such effects by using renewable energy. By considering the Realized Volatility of oil prices, rather …, and variance decompositions show that oil price volatility has more-adverse effects in all sample countries than oil price …
Persistent link: https://www.econbiz.de/10012973994
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Impact of Oil Price Fluctuations on Financial Markets Since 2014
Nguyen, Ha - 2017
This paper investigates the causal impact of oil price fluctuations on financial markets since January 2014. Following a heteroscedasticity-based event study approach, the paper instruments changes in oil prices by exogenous shocks in oil supply. It finds that oil price declines raise...
Persistent link: https://www.econbiz.de/10012964339
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Sources of Volatility During Four Oil Price Crashes
Baffes, John - 2017
Previous sharp oil price declines have been accompanied by elevated ex post volatility. In contrast, volatility was … price declines. This finding is robust to nonparametric and GARCH measures of volatility. Further, the U.S. dollar … appreciation exerted a strong influence on volatility during the recent crash; in contrast, the impact of shocks on equity markets …
Persistent link: https://www.econbiz.de/10012970942
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Oil Price Risks and Pump Price Adjustments
Kojima, Masami - 2017
Between 1999 and 2008, world oil prices more than quadrupled in real terms. For oil importers, vulnerability to oil price increases, defined as the share of gross domestic product spent on net oil imports, rose considerably. Considering medians, low-income countries had the highest vulnerability...
Persistent link: https://www.econbiz.de/10012974899
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How Much Does an Increase in Oil Prices Affect the Global Economy? Some Insights from a General Equilibrium Analysis
Timilsina, Govinda R. - 2017
A global computable general equilibrium model is used to analyze the economic impacts of rising oil prices with endogenously determined availability of biofuels to mitigate those impacts. The negative effects on the global economy are comparable to those found in other studies, but the impacts...
Persistent link: https://www.econbiz.de/10012974209
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Economy-Wide and Distributional Impacts of an Oil Price Shock on the South African Economy
Essama-Nssah, B. - 2017
As crude oil prices reach new highs, there is renewed concern about how external shocks will affect growth and poverty in developing countries. This paper describes a macro-micro framework for examining the structural and distributional consequences of a significant external shock-an increase in...
Persistent link: https://www.econbiz.de/10012746822
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Macroeconomic Effects of Terms-of-Trade Shocks : The Case of Oil-Exporting Countries
Spatafora, Nikola - 2017
The authors investigate the impact on economic growth and development of long-run movements in the external terms of trade, with special reference to the experience of 18 oil-exporting countries between 1973 and 1989. They argue that this sample approximates a controlled experiment for examining...
Persistent link: https://www.econbiz.de/10012746912
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What Type of Finance Matters for Growth? Bayesian Model Averaging Evidence
Hasan, Iftekhar - 2017
This paper examines the effect of finance on long-term economic growth using Bayesian model averaging to address model uncertainty in cross-country growth regressions. The literature largely focuses on financial indicators that assess the financial depth of banks and stock markets. These...
Persistent link: https://www.econbiz.de/10012969486
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The Doing Business Indicators, Economic Growth and Regulatory Reform
Hanusch, Marek - 2017
Improving the investment climate is among the top priorities in development. The World Bank Group's Doing Business reports have become an important guide and benchmark to inform regulatory reforms aimed at unleashing the potential of the private sector. This paper discusses the potential role of...
Persistent link: https://www.econbiz.de/10012975046
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Financial Development, Growth, and Crisis : Is There a Trade-Off?
Loayza, Norman - 2017
-- run growth and another studying its impact on volatility and crisis?has given way to a more nuanced approach that analyzes …
Persistent link: https://www.econbiz.de/10012943988