While oil price fluctuations in the past can be explained by pure supply factors, this book argues that it is monetary policy that plays a significant role in setting global oil prices. It is a key factor often neglected in much of the earlier literature on the determinants of asset prices,...

1 Introductory Remarks: What’s behind the Recent Oil Price Drop? Naoyuki Yoshino and Farhad Taghizadeh-Hesary -- 2 Impact of Expansionary Monetary Policy on Crude Oil Prices Farhad Taghizadeh-Hesary and Naoyuki Yoshino -- 3 Which Side of the Economy Is Affected More by Oil Prices: Supply or...

Starting in late 2008, the U.S. production of tight oil surged, causing a renaissance in the U.S. oil sector that few industry analysts had anticipated. This tight oil boom reduced the dependence of the United States on petroleum imports and allowed it to become a major exporter of gasoline and...

The present paper analyzes the investment decisions made by the main companies participating in the Argentine oil market, based on the export taxes and domestic oil prices policies implemented since 2003, and how the cash flows destined for investment may have affected the oil production in...

The study employed data from 1981 to 2014 to investigate the effects of oil shocks (price and revenue) on the dynamic relationship between government revenues and government expenditures in Nigeria and how it transmits effects on major macroeconomic variables using structural VAR (SVAR) on key...

The relationship between oil price shocks and U.S. macroeconomic fluctuations advocated by Hamilton (1983) broke down in the 1980s amidst a new regime of highly volatile oil price movements. Several authors have argued that asymmetric and nonlinear transformations of oil prices restore that...

The US set an oil export ban after the Iranian crisis in the 1970s due to energy security issues. Since US oil production has been continuously diminishing, there had not been many issues until recently. However, after the hydraulic fracturing technology was introduced to development of shale in...