And this pass-through is fast: almost 70% of the long run pass-through occurs within the first 18 days after the shock. This demonstrates the importance of the use of daily data: a study which relies on monthly data would not be able to detect the dramatic price responses that happens ...
This paper studies how changes in oil supply expectations affect the oil price and the macroeconomy. Using a novel identification design, exploiting institutional features of OPEC and high-frequency data, I identify an oil supply news shock. These shocks have statistically and economically significant ...
Many empirical studies on the oil price shock effects on the economies of oil-exporting countries have assumed a linear relationship between the shocks and... S Moshiri - 《Opec Energy Review》 被引量: 12发表: 2015年 Oil and the macroeconomy: empirical evidence from oil-exporting African count...
Oil Price Shock and Macroeconomic Performance in Nigeria Nigeria is a mono-product economy, where the main export commodity is crude oil, changes in oil prices has implications for the Nigerian economy and, in particular, exchange rate movements. The latter is mostly important due to the doubl....
1 China's imported crude oil purchases were highly impacted by the price-setting action initiated by OPEC. It is always intriguing to investigate how the Chinese macroeconomy is affected by the oil price in the international oil market. However, this is a particularly challenging task given the ...
This paper analyses how systematic risk emanating from the macroeconomy is transmitted into stock market volatility using augmented autoregressive Generali... Z Chinzara - 《South African Journal of Economics》 被引量: 48发表: 2015年 Financial crisis, oil shock and trade in Asia Purpose - In this...
the levels implied by market fundamentals. We identify nine price regimes that are associated with the Organization of the Petroleum Exporting Countries gaining control over the marginal supply of crude oil, US energy legislation, a precautionary demand shock, the Arab Spring and speculative bubbles. ...
By Nurluqman Suratman 04-Apr-23 15:12 SINGAPORE (ICIS)–China’s consumption recovery will be the key focal point for oil markets for the rest of the year, as attention shifts towards demand growth following the shock move by OPEC and its allies e...
In this subsection we present the international evidence that an oil price shock has a significant contribution to the real stock return variation in Europe, a net importer of crude oil, and in Canada, an energy-exporting country. In the analysis the price of Brent crude oil is a proxy of...
priceshock scaledup calmperiod scaleddown NOPIone looks shockhas thresholdway. shockdoes oilprice up above previous years high scaleddown zero.Hooker wanted NOPIGranger cause output hefound nonlinearoil prices predict output, unemployment.When he used realoil price level SOPI NOPIpredict unemployment ...