The markup (the ratio of price to marginal cost) in Canada has risen steadily since the early 1990s suggesting a widening gap between the actual and the efficient level of output and a declining share of labour income in GDP. It exhibits non-stationary movements over the sample period 1982Q1 to 2009Q4, allowing us to identify a permanent markup shock. We provide evidence that oil price movement...

This paper explores the short-run price-inventory dynamics in the presence of different shocks. Classical competitive storage model states that inventory decision considers both current and future market condition, and thus interacts with spot and expected future spot prices. We study competitive storage holding in an equilibrium framework, focusing on the dynamic response of price and inventor...

During the first quarter of 2002, the price of crude oil averaged $19.67 per barrel. Four years later, in the first quarter of 2006, the average price of oil had risen to $63 per barrel. Indeed, the high price of oil may not be a short-lived phenomenon: Futures markets indicate that investors expect the price of oil to remain above $70 per barrel through 2008. For the postwar U.S. economy, the ...

In terms of sharp drop of international oil prices in the second half of 2008 after heading skyward in the first half of 2008 following continual growth since 2005, while at the same time certain parity among energy prices was disrupted, the author of this article tried to investigate key factors that influenced oil and gas industry and to answer the question what would be a »fair» price of cru...

This paper deals with the analysis of (spatial) crude oil production divergence in United States, paying particular attention to domestic between PADD 2 and 3, which are areas bottleneck occurs has a direct implication on price West Texas Intermediate (WTI). To this purpose, we use techniques based fractional integration, cointegration VAR (FCVAR) wavelet analysis. Monthly data related U.S. by ...

Price discovery in crude oil and refined oil products has been extensively undertaken in organised futures markets for over a decade now. There are two dominant such markets today: the first one in the New York Mercantile Exchange; and the second in London’s International Petroleum Exchange. With the demise of OPEC as the leading price setter for crude and products, NYMEX light sweet crude and ...

A b s t r a c t a r t i c l e i n f o JEL classification: C23 G15 Q43 Keywords: Asymmetric effects International stock markets Oil prices Panel data Oil price volatility Although studies have found an asymmetric pattern in the response of aggregate output to oil price changes, parallel studies in stock markets have not been conclusive about their existence. This paper finds evidence that effect...

In this research, we aimed to model the impact of world oil prices on gross domestic product United Arab Emirates (UAE). The objective study was determine transmission mechanism influence changing price within macroeconomic indicators UAE. study, analysed and crude sector economic growth in UAE for period 2001–2020 by applying ADF, OLS, ARDL, Granger causality techniques. results also showed di...

a r t i c l e i n f o JEL classification: E52 G10 G14 Keywords: High oil price events Asymmetric impacts of monetary shocks Financing constraints This paper investigates whether a high oil price event that worsens the quality of a firm's balance sheet in turn provides an additional transmission channel to the stock market, which then affects stock returns. We examine the asymmetric impacts of m...

Crude oil is the major source of energy worldwide being exploited as a source of economy, including Oman. As the price of crude oil increases and crude oil reserves collapse, exploitation of oil resources in mature reservoirs is essential for meeting future energy demands. As conventional recovery methods currently used have become less efficient for the needs, there is a continuous demand of d...