as a result of higher crude oil prices, in one hand, it is expected that alternative energy resources consumption is increased and consumers change their behavior to decline energy intensity too. on the other hand, more alternative energy consumption can leads to a decline of crude oil aggregate demand. therefore, existence of mutual causality between crude oil price and alternative energy cons...

The extensive fluctuations in oil prices have vast impacts on economies. The economical instability may be observed for both oil-exporting and oil-importing countries due to high volatility of oil prices. Oil price data as a time series is a highly nonlinear system which exhibits complex patterns. Traditional oil time series analysis employs statistical methods to model and explain the oil data...

according to the importance of careful review of crude oil market fluctuations on the iranian economy, in this paper a multivariate model of markov switching vector error correction model (have been used). variables such as real gross domestic product in industrial sector, real effective exchange rate, real governmental expenditure, real import, inflation rate and real crude oil price is used t...

This paper analyzes empirically the effect of crude oil price change on the economic growth of Indian-Subcontinent (India, Pakistan and Bangladesh). We use a multivariate Vector Autoregressive analysis followed by Wald Granger causality test and Impulse Response Function (IRF). Wald Granger causality test results show that only India’s economic growth is significantly affected when crude oil pr...