Focusing on travel survey data from Germany, this paper investigates the determinants of automobile travel, with the specific aim of quantifying the effects of fuel prices and fuel economy. The analysis is predicated on the notion that car mileage is a two-stage decision process, comprising the...

This paper models the relationship between consumer and asset prices (approximated by house prices, oil prices and the exchange rate) by means of a Markov Switching model (MS model). It can be shown that house prices appear to play a significant role in the determination of consumer prices in a...

Objective - The preceding three years (2014, 2015, and 2016) saw a drop in the price of oil which has impacted all parts of Omani macroeconomic life. This study aims to identify the association between oil price changes and aggregate household consumption expenditure in the Sultanate by...

We assess whether and to what extent ?nancial activity in the oil futures markets has contributed to destabilize oil prices in recent years. We de?ne a destabilizing ?nancial shock as a shift in oil prices that is not related to current and expected fun- damentals, and thereby distorts e¢ cient...

Crude oil prices have been fluctuating over time and by a large range. It is the disorganization of oil price series that makes it difficult to deduce the changing trends of oil prices in the middle- and long-terms and predict their price levels in the short-term. Following a price-state...

This paper shows that a seemingly simple assumption – that agents use a rolling planning horizon – can reconcile the puzzling long run price dynamics of exhaustible resources such as oil, gas and metals. A rolling horizon has the effect of removing the scarcity consideration of resource...

This paper shows that a seemingly simple assumption, regarding the time horizon of economic agents, can reconcile the puzzling long run price dynamics of exhaustible resources such as oil, gas and metals. It does so by exploring the possibility that economic agents use a rolling planning...

During the past three decades the global oil market has seen significant price volatility. Literature to date has not analysed the cross-country effect of the recent episode of price instability. Previous studies have either not considered this period or have not utilised panel data techniques...

This paper shows that a seemingly simple assumption, regarding the time horizon of economic agents, can reconcile the puzzling long run price dynamics of exhaustible resources such as oil, gas and metals. It does so by exploring the possibility that economic agents use a rolling planning...

Purpose - The purpose of this study is to investigate the relationship between oil price changes and the output growth in Turkey. Design/methodology/approach - The data were taken from International Financial Statistics databases, consisting of monthly data for the period 1986:01-2014:09....