Abstract: This paper discusses two topics. At first, it uses continuous wavelet (Morlet) transform, coherency, and phase angle analysis to study the effect of mean volatility in OPEC Crude Oil prices, WTI crude oil prices, Brent Crude oil prices and Iran’s crude oil prices on The Iran’s REER. To this end, the monthly data of the variables for years 2003 to 2012 is used. Coherency analysis rev...

The macroeconomic implications of oil price fluctuations vary according to their sources. Our estimated two-country DSGE model distinguishes between country-specific oil supply shocks, various domestic and foreign activity shocks, and oil efficiency shocks. Changes in foreign oil efficiency, modeled as factor-augmenting technology, were the key driver of fluctuations in oil prices between 1984 ...

Gasoline accounts for about half the U.S. consumption of petroleum products, and its price is the most visible among these products. As such, changes in gasoline prices are always under public scrutiny. Many claim to observe an asymmetric relationship between gasoline and oil prices—specifically that gasoline prices respond more quickly when oil prices are rising than when oil prices are fallin...

Oil prices, associated with bouts of inflation and economic instability over the last 30 years, have been rising in recent months. We argue that the inflationary consequences of a rise in oil prices depend upon the policy response of the monetary authorities. They can ameliorate the short term impacts on output, but only at the cost of higher inflation. In the short term the size and distributi...

the price of oil plays an important role in the global economy and is an important factor influencing the government and commercial sectors. because of increasing importance of oil in financial markets, oil price predictions have always been an important subject for the researchers in economics, and other economic agents. this paper tries to study the behavior of crude oil prices based on smoot...

Gasoline accounts for about half the U.S. consumption of petroleum products, and its price is the most visible among these products. As such, changes in gasoline prices are always under public scrutiny. Many claim to observe an asymmetric relationship between gasoline and oil prices—specifically that gasoline prices respond more quickly when oil prices are rising than when oil prices are fallin...

Four years ago, as the temperature of rhetoric in the food-versus-fuel debate rose with the prices of corn and oil, Farm Foundation asked three economists from Purdue University to take an objective look at the complex forces that were driving food prices. While oil prices are not at 2008 levels this summer, drought and high temperatures are pushing corn and soybean prices to record levels, and...

Using a new methodology, this paper measures the direct and indirect effects of oil prices on GDP growth of 12 economies. Because of the indirect effect, which is transmitted through a trade matrix, even the net oil exporters like Indonesia and Malaysia cannot escape the negative influence of high oil prices.  2001 Elsevier Science B.V. All rights reserved.