Debt, Investment and Production in the U.S. Oil Industry: An Analysis of the 2014 Oil Price Shock

2016 ◽  
Author(s):  
Kenneth Lehn ◽  
Pengcheng Zhu
Keyword(s):  
Oil Industry ◽  
Oil Price ◽  
Oil Price Shock ◽  
Price Shock ◽  
The U.S

scholarly journals Monetary Transmission Channel, Oil Price Shock and the Manufacturing Sector in Nigeria

2019 ◽  
Vol 19 (1) ◽  
pp. 89-113
Author(s):  
Adeleke Omolade ◽  
Philip Nwosa ◽  
Harold Ngalawa
Keyword(s):  
Monetary Policy ◽  
Exchange Rate ◽  
Inflation Rate ◽  
Manufacturing Sector ◽  
Output Growth ◽  
Oil Price ◽  
Monetary Transmission ◽  
Oil Price Shock ◽  
Price Shock ◽  
The Exchange Rate

Abstract Research background: The need for diversification of the Nigerian economy has been emphasized and the manufacturing sector has a major role in this. Being an oil producing country, monetary policy is an important macroeconomic policy that has always been used to manage the influence of oil price shock on the manufacturing sector. Purpose: The study examines the relationship between oil price shock, the monetary transmission mechanism and manufacturing output growth in Nigeria. Research methodology: The study applied the structural vector auto regression (SVAR) modelling technique and a descriptive analysis. Results: The results of the study show that the exchange rate is mostly affected by the oil price shock, while the monetary policy instruments and inflation rate are also very responsive to the exchange rate shock. The manufacturing sector output growth has also been shown to be strongly affected by the inflation rate and monetary policy shocks. Novelty: The study has revealed the most effective channel via which oil price shocks affect manufacturing output. The exchange rate channel of the monetary policy transmission mechanism is the most significant channel through which oil price shock affects manufacturing output growth in Nigeria. This shows that effective management of the exchange rate policy via the appropriate monetary policy approach can be used to minimize the adverse effect of oil price shocks on Nigerian manufacturing output.

South Sudan may struggle to attract oil investment

2021 ◽  
Keyword(s):  
Foreign Direct Investment ◽  
Foreign Exchange ◽  
Direct Investment ◽  
Oil Price ◽  
Fiscal Year ◽  
Government Revenue ◽  
Content Type ◽  
Oil Price Shock ◽  
Price Shock ◽  
Almost All

Significance Crude oil is central to South Sudan’s economy, providing between 80% and 90% of government revenue and almost all export earnings. Last year’s oil price shock hit the economy hard and prompted two disbursements by the IMF under the Rapid Credit Facility (RCF) in November 2020 and April 2021. Impacts Net foreign direct investment (FDI) will turn positive in fiscal year (FY) 2020/21, following three years of outflows. The central bank’s weekly foreign exchange auctions will continue to reduce the gap between the official and parallel market rates. Following a contraction of around 4%, GDP is expected to grow modestly at 2-3% in FY 2021/22 and FY 2022/23.

The macroeconomic effects of increase and decrease in oil prices: evidences of asymmetric effects from India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Anver Chittangadan Sadath ◽  
Rajesh Herolli Acharya
Keyword(s):  
Negative Impact ◽  
Wholesale Price ◽  
Oil Prices ◽  
Petroleum Products ◽  
Oil Price ◽  
Content Type ◽  
Macroeconomic Variables ◽  
Real Gdp ◽  
Oil Price Shock ◽  
Price Shock

Purpose The purpose of this paper is to assess whether oil price shocks emanating from oil price increase and decrease have a different impact on the macroeconomic activity. Design/methodology/approach This study conducts the empirical analysis using structural vector auto-regressive model on Indian data for the period from 1996 to 2017. This paper uses four key macroeconomic variables, namely, real gross domestic product (GDP), the real rate of interest, real money supply, wholesale price index inflation and various linear and non-linear measures of oil price shock. Findings Empirical results confirm that oil price shock has a significant impact on various macroeconomic variables used in the study. Specifically, shocks emanating from a decline in oil price have a stronger positive impact on real GDP, whereas, a shock due to the rise in oil price has a weaker negative impact on real GDP. Impulse responses confirm that shocks due to a decline in oil prices are long-lasting compared to similar shocks due to a rise in oil prices. Therefore, this study concludes that the macroeconomic impact of oil price shock is asymmetric in India. Originality/value This paper adds the following new insights: First, this paper presents a distinct relationship between the growth rate of oil price and GDP during increasing and decreasing phases of oil price to drive home the case for this study. Second, India has adopted crucial administrative initiatives such as deregulation of the market for petroleum products and the promotion of renewable energy during the study period. Finally, previous studies have revealed specific behavioral and economic features of people in India with respect to the demand for petroleum products. In light of these factors, this paper based on Indian experience would be justified.

scholarly journals Crude oil price variability and its impact on ethanol prices

2011 ◽  
Vol 57 (No. 8) ◽  
pp. 394-403 ◽  
Author(s):  
J. Pokrivčák ◽  
M. Rajčaniová
Keyword(s):  
Crude Oil ◽  
Impulse Response ◽  
Response Function ◽  
Impulse Response Function ◽  
Oil Prices ◽  
Oil Price ◽  
Biofuel Production ◽  
Oil Price Shock ◽  
Price Shock ◽  
The Impact

The world annual biofuel production has exceeded 100 billion litres in 2009. The development of the biofuel production is partly influenced by the government support programs and partly by the development of oil prices. The main purpose of this paper is to analyze the statistical relationship between ethanol, gasoline and crude oil prices. We aim to check the correlation among these variables and to analyze the strength and direction of a possible linear relationship among the variables. We are interested in analyzing how each variable is related to another, so we evaluate the inter-relationship among the variables in the Vector Autoregression (VAR) and the Impulse Response Function (IRF). In order to achieve our goal, we first collected weekly data for each variable from January, 2000 to October, 2009. The results provide evidence of the cointegration relationship between oil and gasoline prices, but no cointegration between ethanol, gasoline and ethanol, oil prices. As a result, we used a VAR model on first differences. After running the Impulse Response Function, we found out that the impact of the oil price shock on the other variables is considerable larger than vice versa. The largest impact of oil price shock was observed on the price of gasoline.  

scholarly journals Did Norway gain from the 1979–1985 oil price shock?

2000 ◽  
Vol 17 (1) ◽  
pp. 107-137 ◽  
Author(s):  
Torbjørn Eika ◽  
Knut A. Magnussen
Keyword(s):  
Oil Price ◽  
Oil Price Shock ◽  
Price Shock

How to Avoid Another Oil Price Shock

Challenge ◽  
1982 ◽  
Vol 25 (3) ◽  
pp. 42-47
Author(s):  
Ronald G. Wirick
Keyword(s):  
Oil Price ◽  
Oil Price Shock ◽  
Price Shock
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