The aim of this paper is to investigate how major net oil exporter economies react to oil price shocks. We contribute to the literature by considering, at the same time, the possible nonlinearity and asymmetry of this relationship with respect to sign, size and causes of the oil price shocks, as...

Purpose: This paper examines whether the economies of oil-exporting countries respond to oil shocks differently, depending on the country’s political economy factors, such as regional economic alliance, stage of economic development, and the exchange rate regime, using a structural Vector...

Since the beginning of the 1980s a large number of studies using a vector autoregressive (VAR) model have been made on the macroeconomic effects of oil price changes. However, surprisingly few studies have so far focused on Russia, the world’s second largest oil exporter. The purpose of this...