Price shocks

Do countries consume more electricity as they become richer? This study uses an instrumental variables approach to investigate the connection between electricity consumption and economic growth. With panel data of 32 countries spanning the period of 1996-2014, two potential instruments, which are an oil price shock as the main focus and past saving rates, are used for estimation.

23p viindra 06-09-2023 4 2   Download

In this paper a Pooled Ordinary Least Square model has been considered for some Southeast Asia countries in order to study the direct effects of world oilprice shocks and real interest rate on inflation. Our results canbe summarized as follows: For seven Southeast Asian countries including Vietnam, Thailand, Indonesia, Malaysia, Myanmar, Philippines and Singapore, world crude oil price and real interest rate both have statistical significant negative impact on inflation.

8p nhanchienthien 25-07-2023 10 5   Download

The experience of previous oil price shocks has shown that these shocks can provide an important catalyst for policies to encourage demand reduction, substitution to other fuels, and development of new sources of energy supply.

11p maingoc84 28-12-2022 33 4   Download

The purpose of this paper was to economically analyze and examine the causal relationship between food import bill and certain economic indicators in Oman during the period 1980-2019. The vector error correction model was used to assess the dynamics of food import bill. The finding indicates that food import bill in Oman is positively influenced by the population growth rate, and the GDP per capita, while oil prices showed a negative impact on food import bill.

8p mynguyenha 21-07-2021 17 2   Download

The issue of modern development in the oil industry has become extremely urgent. In 2020, for the 1st time in history, the exchange price of oil crossed the negative threshold, radically changing the understanding of economic processes in the industry. This paper examines the consequences of this stressful situation in the context of the financial stability of global oil companies in conjunction with ensuring the budgetary balance for resourceexporting countries. In the course of the study, the factors that influence the pricing in the oil market have been clarified.

8p mynguyenha 21-07-2021 15 1   Download

The purpose of this paper was to empirically assess the impact of oil prices on ASEAN+3 inflation and economic growth. The framework that can be applied to linear dynamic panel data to achieve this goal is the First Difference-Generalized Moment Method (FD-GMM) estimator method. This study used panel data representing ASEAN+3 countries and annual data over the period 2011-2020. The findings of the study indicated that, over the period, increasing oil prices were associated with higher inflation, and higher economic growth in ASEAN+3.

9p mynguyenha 21-07-2021 19 1   Download

In this study, the VAR-GARCH model introduced by Ling and McAleer (2003) was used to determine the interaction between oil prices and stock markets in terms of return and volatility for developing countries (BRICS-T). The reason for choosing this model is to reveal whether the shocks and volatility in these markets have a transitional effect.

6p mynguyenha 21-07-2021 19 2   Download

The study is an attempt to examine empirically the effects of oil price shock on current account imbalances. The analysis is carried out on the crosscountry panel of 160 countries that are divided into three different groups base on their level of oil imports. The relationship between the oil price shock and current account imbalances is rigorously assessed using two different approaches. Firstly, the seemingly unrelated regression models are used to estimate the effects of oil price shock on current account imbalances with transmission channels namely trade, valuation, and wealth.

12p caygaocaolon11 18-04-2021 16 1   Download

The crude oil price fluctuation investigation is to explore the impact of crude oil price shocks on the countries’ economic growth. The Vector Autoregressive Model (VAR) was applied and the variance decomposition is to analyze the impact of the GDP growth due to the shock of the crude oil price.

11p caygaocaolon11 18-04-2021 30 3   Download

This paper assesses empirically the effects of real oil price shocks on the food inflation in Kazakhstan for the monthly period 2004-2019 by using a VAR model. Standard unit root tests do not yield reliable results in the presence of breaks. In this regard, Zivot and Andrews (1992) has been tested with the help of unit root test. Food prices have been proven to be I (1) according to the Zivot and Andrews (1992) test, while I (0) is according to the ADF test. In subsequent steps, the causality test of the variables was performed.

7p caygaocaolon11 18-04-2021 18 2   Download

The oil revenue constitutes 50% of the GDP of Saudi Arabia approximately and indirectly governs the Public spending Avenues (PSA). The study finds out the symmetry in sensitivity and trend of Oil prices (OP), GDP, and Public Spending Avenues (PSA) and the impact of volatility of oil prices on the GDP, and PSA. The analysis is based on the Chain based Index (CBI) and Fixed Based Index (FBI) numbers to get the sensitivity and trend movement of the variables.

6p caygaocaolon11 18-04-2021 19 1   Download

This paper considers an application of the Markov switching vector error correction model to the analysis of the long-run and the short-run dependence of Russian real GDP and real exchange on oil prices. An algorithm for estimation of the model with a priori information on a state of hidden Markov chain in some periods of time is provided.

11p caygaocaolon11 18-04-2021 21 2   Download

The nexus between oil price and exchange rate for Bangladesh economy by using annual data covering from 1980 to 2018. Given the stationarity properties, the Johansen cointegration and the ARDL bounds cointegration tests find a long-run cointegrating relationship between the variables. We reveal that oil price granger causes exchange rate in the long-run but not in the short-run. According to DOLS and DARDL methods, an increase in oil price appreciates exchange rate by 0.40% and 0.30%.

9p caygaocaolon11 18-04-2021 21 2   Download

Crude oil is considered as a major resource of any developing country it may be either Oil importing or exporting countries. The present study examines the relationship between the Exchange rate, Crude oil and Stock market returns. The study analyse the monthly observations from April 1, 2003 to March 31, 2019 with the help of Co integration, Granger causality, Variance Decomposition. The overall findings of the study indicate a significant effect of Crude oil on USD/INR Exchange rate.

6p caygaocaolon11 18-04-2021 21 4   Download

In this study, by considering the period between January 2010 and December 2019 of BRICS-T countries, the relationship between oil prices and stock prices was examined through the Hatemi-J asymmetric causality test (2012). The stationarity levels of the series were determined by augmented Dickey-Fuller (ADF) and Phillips-Perron (PP) unit root tests. Hatemi (2012) asymmetric causality test, which takes into account the presence of asymmetric information in financial markets by distinguishing positive and negative shocks, was used.

9p caygaocaolon11 18-04-2021 16 3   Download

The inconclusiveness of findings from various studies on Nigeria on the effect of crude oil price fluctuation on the stock market has led to an argument in literature, thus necessitating further exploration of the subject. This study examines the effect of variations in the price of crude oil on selected stock market performance variables in Nigeria using monthly frequency data covering January 1997-December 2016. Variance decomposition, impulse response analysis, and VAR estimations were employed for the study.

10p caygaocaolon11 18-04-2021 21 2   Download

Coronavirus (2019-nCoV) not only has an effect on human health but also on economic variables in countries around the world. Coronavirus has an effect on the price of black gold and on its volatility. The shock on all markets is already very strong. Volatility patterns in Brent crude oil simulation are examined during COVID-19 crisis that significantly affected the oil market volatility. The selected crisis of coronavirus arose due to different triggers having diverse implications for oil returns volatility.

12p nguaconbaynhay10 22-02-2021 11 1   Download

This paper reviews the research on into the macroeconomic outcomes observed in practice, while section 6 focuses on obstacles researchers have had to overcome in empirical studies. Section 7 concludes.

19p angicungduoc9 04-01-2021 11 2   Download

Lecture 17 Aggregate demand – II. The main contents of the chapter consist of the following: How policies and shocks affect income and the interest rate in the short run when prices are fixed, derive the aggregate demand curve, explore various explanations for the great depression.

35p larachdumlanat124 28-11-2020 9 1   Download

The aim of the study is to find the empirical analyses of the impact of oil price fluctuation on the monetary instrument in Nigeria, by looking at their relationships. Specifically, we analyzed the role of Exchange rate, Inflation, Interest rate and how they respond to shocks in oil price. We explored the frequently used Toda–Yamamoto model (TY), by adopting the TY modified Wald (MWALD) test approach to causality, forecast error variance decomposition (FEVD) and impulse response functions (IRFs).

8p kethamoi7 15-08-2020 28 2   Download