Identification schemes are of essential importance in structural analysis. This paper focuseson testing a commonly used long-run structural parameter identification scheme claiming to identifyfundamental and non-fundamental shocks to stock prices. Five related widely used structural modelson...

This paper examines the impact of Chinese economic growth on the real price of crude oil based on monthly time series data from 1992:01 to 2017:06 using structural vector auto-regression (SVAR). The variables of the SVAR model are global crude oil production, index of global economic activity,...

Following the end of the coronavirus pandemic, the European Central Bank (ECB) was confronted with an unprecedented increase in energy prices. This led to consumer price inflation in the euro area far beyond the ECB's inflation target of two percent, at times up to 10 percent. At the same time,...

In der Zeit nach der Corona-Pandemie sah sich die Europäische Zentralbank (EZB) einem beispiellosen Anstieg der Energiepreise gegenüber. Dieser führte zu einer Konsumentenpreisinflation im Euroraum von zeitweise über zehn Prozent, weit über dem EZB-Inflationsziel von zwei Prozent....

When quantifying the importance of supply and demand for oil price fluctuations, a wide range of estimates have been reported. Models identified via a sharp upper bound on the short-run price elasticity of supply find supply shocks to be minor drivers. In turn, when replacing the upper bound...

This paper studies the volatility spillover and dynamic correlation between EU emission allowance (EUA) prices and energy prices by considering three energy commodities, including oil, gas, and coal. The asymmetric BEKK model is employed for multi-phase analysis of EU ETS, yet only a little...

This paper examines the relationship among real GDP, CO2 emissions, and energy use in the six Gulf Cooperation Council (GCC) countries. Using annual data for the years 1960-2013, stationarity, structural breaks, and cointegration tests have been conducted. The empirical evidence strongly...

This paper examines the degree of oil price pass-through to domestic prices at different stages of supply chain in Turkey. Our results, based on vector autoregressive models, point out that the pass-through to domestic motor fuel prices is considerably fast as expected and just one third of a...

This paper analyses China's energy consumption and economic growth spillover effects on four world regions: (i) America (North and South); (ii) Europe and Central Asia; (iii) Asia Pacific; and (iv) Africa and the Middle East. An annual aggregated time series by world region, from 1970 to 2016, and...