This study investigates changes in the relationship between oil prices and the US economy from a long-term perspective. Although neither of the two series (oil price and GDP growth rates) presents structural breaks in mean, we identify different volatility periods in both of them, separately....

In this study, the analysis was that the capacity of creating inflation depends on oil prices as the one of energy types that is a major input of aggregate output which becomes a source of economic growth with increasing in costs. The aggregate output is also a function of energy that is the one...

This paper investigates the time-series properties of the price of iron ore. The focus is on testing a unit-root null hypothesis against a trend-stationary alternative, with a structural break allowed under both hypotheses. We consider unit-root tests with or without structural breaks, applied...

This paper analyzed the non-linear ARDL approach and the non-linear Granger co-integration method. The gold price level showed positive asymmetric response to changes in the oil price in the short and long run. This study used the non-linear ARDL method to analyze the relationship between oil...

This paper provides evidence on the influence of oil price uncertainty on the real economic activity in two Middle Eastern countries, namely, Jordan and Turkey that are heavily dependent on oil imports. To measure the effect of uncertainty, the paper combines a bivariate structural VAR with a...

The goal of this paper is to analyze the impact of OPEC's oil price level versus oil supply strategy on the country's gross domestic product (GDP) growth rate. Our motivation comes from a fundamental dilemma facing OPEC nations. Its members need to choose between the traditional OPEC cartel...

The paper continues a series of publications on the natural science foundations of the global economy. Physical macroeconomics treats the global economy as a living system, formed during biological and socio-economic evolution.In this Part VI of physical macroeconomics, qualitatively...

Oil and gold are the two strategic commodities which have received much attention. The prices of oil and gold, which are the world’s most traded commodities, are very volatile. This paper aims to analyze the impact of oil shock and gold price on the business cycles of some developed countries:...

Oil price shocks impact the global economy, but the effects are not alike across the countries. While higher oil prices are beneficial to oil-exporting countries, they are harmful to economic performance of oil-importing countries. The opposite is also true for the lower oil prices. Nonetheless,...

Using a modified DCC-MIDAS specification, we endogenize the long-term correlation between crude oil and stock price returns with respect to the stance of the U.S. macroeconomy. We find that variables which contain information on current and future economic activity are helpful predictors for...