OPEC outputImpulse response functionVariance decompositionAs the organization of oil exporting countries,OPEC has exerted great influences on the oil price all through.However,as the oil price is soaring after world financial crisis in 1998,OPEC's ability to manipulate oil price has brought about ...
3.Oil Price Shocks,Endogenous Technological Progress and Japanese Economic Growth石油价格冲击、内生技术进步与日本经济增长 4.The 1990 oil shock appeared to help tip the U.S. economy into recession in 1991.1990年的石油价格冲击使1991年的美国经济陷入衰退。 5.A Comparative Study on Asymmetric Effects ...
The second oil price shock in 1979 led to global recession and imposed even more hardship on the prosperity of developing countries as the price for their oil imports rose and the price for their other export products fell. By 1985 Third World Debt exceeded $1 trillion dollars. The problem ...
Also, the study further classifies oil price shocks into sub-samples: for a first sub- sample (1985-1999), for a second sub-sample (2000-2004) and for a third sub-sample (2005- 2008). Empirical results show an immediate and significant negative real stock returns to oil price shock in...
In this study, we analyze the time-frequency connectedness between the recent COVID-19 outbreak, crude oil price volatility shock, the economic policy uncertainty, the geopolitical risk and the stock market in the US using the continuous wavelet transform, the wavelet coherence and the wavelet-...
This study has been a humbling experience. Get ready to throw out everything you thought you knew about oil prices. The model does not by any means explain all oil price variation. What is remarkable is that with only one data set, it explains so much. Many factors may affect the price...
According to some authors, a tightening of monetary policy following an oil price shock has a much more severe impact than the direct effects of the oil price shock themselves. However, empirical evidence on this matter is ambiguous. Current simulations for the euro area, the U.S.A. and ...
In this paper, we assess the impact and repercussions of oil price fluctuations on the UK economy. We use an empirical strategy which allows us to decompose oil price changes from the underlying source of the shock. Our results show that the consequences of oil price changes on UK macroeconomi...
How does monetary policy affect economic vulnerability to oil price shock as against US economy shock? Int. J. Econ. Financ. Issues, 7 (2) (2017), pp. 544-550 Google Scholar Rosa, 2014 C. Rosa The high-frequency response of energy prices to US monetary policy: understanding the empirica...
They evidenced that oil price series are mean reverting which implies that the shock would be transitory albeit with very long-lasting effects. The goal of this paper is to understand the behavior of the BDI and WTI (West Texas Intermediate) crude oil prices under the assumption of geopolitical...