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...

abstract the purpose of this paper is to test the hypothesis first proposed by romer (1993); suggesting that inflation is lower in more open economies. according to this hypothesis, central banks have a lower incentive to engineer surprise inflations in more-open economies because the phillips curve is steeper. furthermore, comparing with other empirical studies, this paper has used the new kof...

a r t i c l e i n f o JEL classification: F1 F4 Q43 N75 Keywords: Oil price shock Trade balance VAR Granger non-causality test Gregory-Hansen cointegration test This study aims to examine whether a large part of the variability of trade balances and their oil and non-oil components is associated with oil price fluctuations. The long-run causality running from oil price to overall, oil and non-o...

Based on a structural vector autoregressive framework the monthly data from April 1997 to July 2016, this study is an attempt show impact of crude oil price rate inflation and economic growth in India. The results showed that has positive whereas inverse relation exists between growth. Further, we segregated into two components, is, negative partial sum through nonlinear asymmetric distribution...

The study investigates the role of financial sector in mobilization oil resources for development Nigerian economy. While period covers between 1981 and 2019, research utilizes principal component analysis (PCA) approach to construct a composite proxy from five variable indicators. Also, deploys fully modified ordinary least squares (FMOLS) estimate impact revenue on Nigeria’s economic growth. ...

An identity links the rate of economic growth, the speed of poverty reduction and changes in the distribution of income during some time period in a given country. A few authors used that identity to understand the causes for observed changes in poverty and to identify the exact role of economic growth in poverty reduction. Yet, many empirical cross-country studies of the relationship between g...

Peak oil” refers to the future decline in world production of crude oil and to the accompanying potentially calamitous effects. The peak oil literature typically rejects economic analysis. This chapter, following Holland (2008), argues that economic analysis is indeed appropriate for analyzing oil scarcity since standard economic models can replicate the observed peaks in oil production. Moreov...

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...

This paper explains why the overall stance of monetary policy is effected by both interest rates and the exchange rate, and hence why a Monetary Conditions Indicator can provide useful information about the stance of policy. Three output gap equations estimated in this paper reveal that the real interest rate and the real exchange rate both affect excess demand but that the real interest rate i...