Oil Price Uncertainty Index - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Oil Price Uncertainty Index write by Yosef Bonaparte. This book was released on 2015. Oil Price Uncertainty Index available in PDF, EPUB and Kindle. We develop a new oil price uncertainty index (OPUX) based on newspaper and social networking coverage. Our index improves on the existing oil ETF volatility index (OVX) because financial markets are inefficient insofar as prices do not reflect all information (Shiller, 1981). Several pieces of evidence, including a media audit of 14,233 newspaper articles and 502 tweets, indicate that our OPUX predicts changes in the uncertainty of oil prices. Specifically, our results demonstrate that the OPUX improves ability to predict oil price volatility (the standard deviation of daily prices for a given month) between 24% and 30%. The intuition behind our results is that the existing OVX is fairly smooth, whereas actual oil price volatility shows considerably more fluctuation in step with media coverage (see Figure 1, Panels A, B and C). Collectively, newspaper and social media coverage are powerful predictors of future volatility in the oil market.
Oil Price Uncertainty
Oil Price Uncertainty - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Oil Price Uncertainty write by Apostolos Serletis. This book was released on 2012. Oil Price Uncertainty available in PDF, EPUB and Kindle. The relationship between the price of oil and the level of economic activity is a fundamental issue in macroeconomics. There is an ongoing debate in the literature about whether positive oil price shocks cause recessions in the United States (and other oil-importing countries), and although there exists a vast empirical literature that investigates the effects of oil price shocks, there are relatively few studies that investigate the direct effects of uncertainty about oil prices on the real economy. The book uses recent advances in macroeconomics and financial economics to investigate the effects of oil price shocks and uncertainty about the price of oil on the level of economic activity.
Oil Price Uncertainty
Oil Price Uncertainty - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Oil Price Uncertainty write by John Elder. This book was released on 2010. Oil Price Uncertainty available in PDF, EPUB and Kindle. The theories of investment under uncertainty and real options predict that uncertainty about, for example, oil prices will tend to depress current investment. We reinvestigate the relationship between the price of oil and investment, focusing on the role of uncertainty about oil prices. We find that volatility in oil prices has had a negative and statistically significant effect on several measures of investment, durables consumption and aggregate output. We also find that accounting for the effects of oil price volatility tends to exacerbate the negative dynamic response of economic activity to a negative oil price shock, while dampening the response to a positive oil price shock.
Uncertainty and Sign-dependent Effects of Oil Market Shocks
Uncertainty and Sign-dependent Effects of Oil Market Shocks - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Uncertainty and Sign-dependent Effects of Oil Market Shocks write by Bao Hoang Nguyen. This book was released on 2019. Uncertainty and Sign-dependent Effects of Oil Market Shocks available in PDF, EPUB and Kindle.
Emerging Markets and the Global Economy
Emerging Markets and the Global Economy - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Emerging Markets and the Global Economy write by Mohammed El Hedi Arouri. This book was released on 2013-12-26. Emerging Markets and the Global Economy available in PDF, EPUB and Kindle. Emerging Markets and the Global Economy investigates analytical techniques suited to emerging market economies, which are typically prone to policy shocks. Despite the large body of emerging market finance literature, their underlying dynamics and interactions with other economies remain challenging and mysterious because standard financial models measure them imprecisely. Describing the linkages between emerging and developed markets, this collection systematically explores several crucial issues in asset valuation and risk management. Contributors present new theoretical constructions and empirical methods for handling cross-country volatility and sudden regime shifts. Usually attractive for investors because of the superior growth they can deliver, emerging markets can have a low correlation with developed markets. This collection advances your knowledge about their inherent characteristics. Foreword by Ali M. Kutan - Concentrates on post-crisis roles of emerging markets in the global economy - Reports on key theoretical and technical developments in emerging financial markets - Forecasts future developments in linkages among developed and emerging economies
