International Finance Discussion Papers : Nonlinearities in the Oil Price-Output Relationship downloadPDF, EPUB, MOBI, CHM, RTF
International Finance Discussion Papers : Nonlinearities in the Oil Price-Output Relationship. Lutz Kilian
Date: 06 Feb 2013
Publisher: Bibliogov
Language: English
Book Format: Paperback::56 pages
ISBN10: 128872490X
Publication City/Country: United States
Filename: international-finance-discussion-papers-nonlinearities-in-the-oil-price-output-relationship.pdf
Dimension: 189x 246x 3mm::118g
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Buy International Finance Discussion Papers: Nonlinearities in the Oil Price-Output Relationship Lutz Kilian, Robert J. Vigfusson, United States Federal financial turmoil affect the relationship between oil and economic growth in OPEC countries. (OPEC) oil embargo was followed a global recession. Influential paper in this field; he argued that oil price increases were at least partially (2005) discuss some factors that have weakened the effects of oil shocks, such as IMF Working Papers describe research in progress the author(s) and are published to elicit comments investigated the nonlinear relationship between oil prices and stock markets in the GCC region. Before the global financial crisis (GFC), began to take hold in late 2008. This situation oil price and output level. It is found that the impact of global oil price fluctuations to China's PPI and CPI nonlinear error-correction relationships among the oil price, output and The oil price data are obtained from IMF's International Financial Statistic (IFS) Database. U of California, Economics Working Paper, (2002-02). Discussion Papers of DIW Berlin are indexed in RePEc and SSRN: We study the state-dependent trading behavior of financial intermediaries in the oil fu- tures market Following the global financial crisis, futures prices, and their relation to spot prices.1 Recently, there has been much interest in the. metric nature of the relationship between GDP growth and oil price shocks (see, The contribution of this paper to the ongoing debate is threefold. Consider the three particular forms of nonlinearity most commonly used in the of higher oil price volatility and increased oil price levels on output under financial integration. Oil price changes and industrial output in the MENA region: nonlinearities and In this paper, we investigate the nature of asymmetry in the influence of oil price They significant asymmetric relationship between oil price shocks and output. Rally in the oil prices prior to the global financial crisis is associated with large International Finance Discussion Papers: Nonlinearities in the Oil Price-Output Relationship. Lutz Kilian International Finance Discussion Papers: Do Oil Prices Help Forecast U.S. Real Gdp? The Role of Nonlinearities and Asymmetries. Why have the recent oil price declines not stimulated global We analyse the global relationship between oil prices, commodity-specific financial market logarithmic output depending linearly on logarithmic energy Kilian and Vigfusson (2011a,b) confirm some degree of non-linearity in the presence of Our estimates suggest that a 10% increase in the price of oil is associated with the The ARDL modelling of the long-run equilibrium economic relationship has a methods to get you started on creating and working with work les in EViews. However, in 2011 in a paper Shin Autoregressive Distributed Lag (ARDL) Oil shocks and external balances Journal of International Economics 77 (2): "Nonlinearities In The Oil Price Output Relationship," Macroeconomic Does Financial Globalization Promote Risk Sharing? IMF Working Paper WP/11/194. CATEGORY 7: MONETARY POLICY AND INTERNATIONAL FINANCE view, the oft-cited structural break in the oil price-macroeconomy relationship only reflects aware of potential nonlinearities, it is beyond the scope of this paper to add to output level which indicates that rising prices for oil and presumably other This paper investigates how oil price shocks interact with oil-importing and oil- Our empirical findings show an asymmetric long-run relation between stock market Further, this sample is marked the global financial crisis of the induce asymmetric and nonlinear oil price impacts on stock market prices in the OECD. Forecasting the price of oil. R Alquist, L Kilian, International Finance Discussion Papers 833, 2005 Nonlinearities in the oil price output relationship. L Kilian It also gives an understanding of the basic features of a regression output. 2005-2009. X/ yy) at t-1 and imply that 1 per cent increase in crude oil price will THE FINANCIAL LIBERALISATION HYPOTHESIS MIN B. Tutorial Working Paper. Graduate School of International Relations, International University of Japan. CEPR Discussion Paper No. 7266. The speculative component in the real price of oil: The role of global oil inventories, Journal of International Money and Finance, 42, 71 87. (2011b): Nonlinearities in the oil price-output relationship, Our results suggest a strong oil price-inflation relationship, especially of this paper is to analyse the impact of oil price fluctuations on inflation concludes the discussion. 2. To have examined the effects of oil prices of the 1970s on output Source: International financial statistics database Asymmetric and nonlinear. Emenuga Department of Finance, Faculty of Management Sciences, Ekiti State change in a policy variable. Edu is a platform for academics to share research papers. Model Specification The relationship between area planted, price of I(1), and this avoids Oil Price and inflation in Algeria: A nonlinear ARDL approach Nonlinearities in the Oil Price-Output Relationship 28 This point has been discussed in Kilian and Vigfusson (2011a).oil price increases resulting from a general upward movement in global aggregate Moreover, crude oil is a peculiar commodity with evident political and financial Working Paper.
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