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Innovation and inequality in a small world
Lindner, Ines; Strulik, Holger - 2017
countries it exchanges knowledge with. The diffusion of knowledge throughout the world explains a period of increasing world …. Knowledge diffusion through a Small World network produces an extraordinary diversity of country growth performances, including … the overtaking of individual countries and the replacement of the technologically leading country in the course of world …
Persistent link: https://www.econbiz.de/10011665033
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Innovation and inequality in a small world
Lindner, Ines; Strulik, Holger - 2017
countries it exchanges knowledge with. The diffusion of knowledge throughout the world explains a period of increasing world …. Knowledge diffusion through a Small World network produces an extraordinary diversity of country growth performances, including … the overtaking of individual countries and the replacement of the technologically leading country in the course of world …
Persistent link: https://www.econbiz.de/10011688459
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Monopoly Power in the Oil Market and the Macroeconomy
Branger, Nicole; Flacke, René Marian; Gräber, Nikolai - 2019
This paper studies macroeconomic consequences of oil price shocks caused by innovations in the monopoly power in the oil market. Monopoly power is interpreted as oil producers' ability to charge a markup over marginal costs. We propose a novel way to identify markup shocks based on meetings of...
Persistent link: https://www.econbiz.de/10014118702
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Trade Linkages and Macroeconomic Effects of the Price of Oil
Korhonen, Iikka - 2008
In this paper we assess the impact of oil price shocks on oil-producer and oil-consumer economies. VAR models for different countries are linked together via a trade matrix, as in Abeysinghe (2001). As expected, we find that oil producers (Russia and Canada here) benefit from oil price shocks....
Persistent link: https://www.econbiz.de/10012722559
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Big fish : oil markets and speculation
Cologni, Alessandro; Scarpa, Elisa; Sitzia, Francesco … - 2015
The role of speculators in the oil markets has been vastly investigated during the last few years. Several authors focused on the definition of speculation while others examined the relationship between oil prices and the behavior of trading actors. In this paper, we formulate a new theory able...
Persistent link: https://www.econbiz.de/10010532119
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The Econometrics of Oil Market VAR Models
Kilian, Lutz - 2020
Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact in the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between...
Persistent link: https://www.econbiz.de/10012839764
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Current Issues on the Price of Oil : Decline, Forecasting, Volatility and Uncertainty
Bashiri Behmiri, Niaz - 2018
The 2015 workshop on “Recent evolutions of oil and commodity prices”, organized by FEEM, focused on the sharp decline in the oil price in 2014. High crude oil production and slower demand growth explain a large fraction of the current low level of prices, but a complex set of factors is...
Persistent link: https://www.econbiz.de/10012911766
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Refining the workhorse oil market model
Zhou, Xiaoqing - 2019
The Kilian and Murphy (2014) structural vector autoregressive model has become the workhorse model for the analysis of oil markets. I explore various refinements and extensions of this model, including the effects of (1) correcting an error in the measure of global real economic activity, (2)...
Persistent link: https://www.econbiz.de/10012230336
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The econometrics of oil market VAR models
Kilian, Lutz; Zhou, Xiaoqing - 2020
Oil market VAR models have become the standard tool for understanding the evolution of the real price of oil and its impact in the macro economy. As this literature has expanded at a rapid pace, it has become increasingly difficult for mainstream economists to understand the differences between...
Persistent link: https://www.econbiz.de/10012230527
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Forecasting the Price of Crude Oil Via Convenience Yield Predictions
Knetsch, Thomas - 2016
The paper develops an oil price forecasting technique which is based on the present value model of rational commodity pricing. The approach suggests shifting the forecasting problem to the marginal convenience yield which can be derived from the cost-of-carry relationship. In a recursive...
Persistent link: https://www.econbiz.de/10012991189