The quantile dependence of the stock returns of “clean” and “dirty” firms on oil demand and supply shocks

2021 ◽  
pp. 100238
Author(s):  
Yacouba Kassouri ◽  
Halil Altıntaş
Keyword(s):  
Stock Returns ◽  
Demand And Supply ◽  
Supply Shocks ◽  
Oil Demand

scholarly journals HOW DO INTERNATIONAL STOCK MARKETS RESPOND TO OIL DEMAND AND SUPPLY SHOCKS?

2013 ◽  
Vol 18 (8) ◽  
pp. 1657-1682 ◽  
Author(s):  
Jochen H. F. Güntner
Keyword(s):  
Stock Market ◽  
Stock Returns ◽  
Stock Markets ◽  
Structural Var ◽  
Oil Price ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Demand And Supply ◽  
Supply Shocks ◽  
Oil Demand

Building on Kilian and Park's (2009) structural VAR analysis of the effects of oil demand and supply shocks on the U.S. stock market, this paper focuses on the differences and commonalities of stock price responses in oil exporting and importing economies in 1974–2011. Structural oil price shocks add to our understanding of the 2008 stock market crash. I find that unexpected reductions in world oil supply do not affect stock returns in any of six OECD countries. Although an increase in global aggregate demand consistently raises oil prices and cumulative real stock returns, the effect is more persistent for oil exporters. Other, e.g., precautionary oil demand shocks have a detrimental impact on stock markets in oil-importing countries, a statistically insignificant effect for Canada, and a significantly positive effect for Norway. Oil price shocks account for a larger share of the variation in aggregate international stock returns than in national stock returns.

scholarly journals The differential effects of oil demand and supply shocks on the global economy

2014 ◽  
Vol 44 ◽  
pp. 113-134 ◽  
Author(s):  
Paul Cashin ◽  
Kamiar Mohaddes ◽  
Maziar Raissi ◽  
Mehdi Raissi
Keyword(s):  
Global Economy ◽  
Demand And Supply ◽  
Differential Effects ◽  
Supply Shocks ◽  
Oil Demand

scholarly journals The Differential Effects of Oil Demand and Supply Shocks on the Global Economy

2012 ◽  
Vol 12 (253) ◽  
pp. i ◽  
Author(s):  
Paul Cashin ◽  
Kamiar Mohaddes ◽  
Mehdi Raissi ◽  
Maziar Raissi ◽  
◽  
...  
Keyword(s):  
Global Economy ◽  
Demand And Supply ◽  
Differential Effects ◽  
Supply Shocks ◽  
Oil Demand

scholarly journals The Differential Effects of Oil Demand and Supply Shocks on the Global Economy

2012 ◽  
Author(s):  
Paul Anthony Cashin ◽  
Kamiar Mohaddes ◽  
Maziar Raissi ◽  
Mehdi Raissi
Keyword(s):  
Global Economy ◽  
Demand And Supply ◽  
Differential Effects ◽  
Supply Shocks ◽  
Oil Demand

The Economics of Commodities and Commodity Markets

2018 ◽  
Author(s):  
Florian Ielpo
Keyword(s):  
Raw Materials ◽  
Commodity Prices ◽  
Essential Element ◽  
Commodity Markets ◽  
Production Costs ◽  
Demand And Supply ◽  
Spot Prices ◽  
Supply Shocks ◽  
The Business Cycle

This chapter covers the economic fundamentals of commodity markets (i.e., what shapes the evolution of the price of raw materials) in three steps. First, it covers the theories explaining why the futures curve can be upward or downward sloping, an essential element for commodity producing companies. The evolution of inventories and hedging pressures are the two dominant sources of explanation. Second, the chapter reviews the fundamentals of commodity spot prices: technologies, supply, demand, and speculation. Production costs draw the long-term evolution of prices, but demand and supply shocks can trigger substantial variations in commodity prices. Third, the chapter presents how commodity prices interact with the business cycle. Commodities are influenced by the world activity but can also have a material impact on it.

scholarly journals Tracking inflation on a daily basis

2020 ◽  
Vol 156 (1) ◽  
Author(s):  
Santiago E. Alvarez ◽  
Sarah M. Lein
Keyword(s):  
Real Time ◽  
Price Index ◽  
Daily Basis ◽  
Relative Importance ◽  
Online Data ◽  
Demand And Supply ◽  
Supply Shocks ◽  
Policy Measures ◽  
Real Time Information ◽  
Time Information

Abstract Using online data for prices and real-time debit card transaction data on changes in expenditures for Switzerland allows us to track inflation on a daily basis. While the daily price index fluctuates around the official price index in normal times, it drops immediately after the lockdown related to the COVID19 pandemic. Official statistics reflect this drop only with a lag, specifically because data collection takes time and is impeded by lockdown conditions. Such daily real-time information can be useful to gauge the relative importance of demand and supply shocks and thus inform policymakers who need to determine appropriate policy measures.

The Effect of Chinese Demand and Supply Shocks on Peruvian Exporters

2015 ◽  
Vol 52 (8) ◽  
pp. 1922-1934
Author(s):  
Jean Paul Rabanal ◽  
Olga A. Rabanal
Keyword(s):  
Demand And Supply ◽  
Supply Shocks
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