Crude oil is one of the most necessitated worldwide required commodities. Any slight fluctuation in crude oil prices can have both direct and indirect influence on the economy of the countries. The unpredictability of crude oil prices forced many companies away from the competition and it influence the stock market and many other macroeconomic variables (inflation, GDP, Import bill etc). Crude ...

Abstract We documented that for some oil-exporting countries, the correlation between exchange rates and oil prices is strongly negative during periods of significant price drop but much weaker other periods. To interpret this time-varying asymmetric correlation, we develop estimate a Markov-switching small open economy New Keynesian model with income as source government revenue. In particular...

in recent years, sustainable development has been accounted as one of the most important policy goals at the global level. many empirical studies have been carried out to determine the relationship between economic growth and environmental quality. the model so-called environmental kuznets curve (ekc) was in most of empirical studies. the aim of this study is to estimate a modified ekc (mekc) i...

With unrest in oil-exporting countries, backlashes against biofuels and photovoltaics, and a nuclear incident in Japan, the year 2011 rattled confidence in future energy supplies. The search for alternatives is all the more urgent, but some of the solutions investigated hark back to fossil fuels that we can't afford to burn.