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The 2015 workshop on “Recent evolutions of oil and commodity prices”, organized by FEEM, focused on the sharp decline in the oil price in 2014. High crude oil production and slower demand growth explain a large fraction of the current low level of prices, but a complex set of factors is...
Persistent link: https://www.econbiz.de/10012911766
Climate change and uncertainty about its potential consequences has become a central concern for economists, investors, and policymakers alike. I use a stochastic, dynamic general equilibrium model where final output is produced using a mix of cheap, dirty inputs and expensive, clean inputs and...
Persistent link: https://www.econbiz.de/10014255764
-related derivative contracts, together with coal-dominated energy consumption structure and oil price subsidies, make the economy less …
Persistent link: https://www.econbiz.de/10012865630
This paper investigates the link between oil price uncertainty shocks and key macroeconomic indicators of a net oil importing country, South Africa. Monthly data covering the period 1990:01 to 2015:12 is used. The Structural Vector Autoregressive (SVAR) methodology is applied incorporating...
Persistent link: https://www.econbiz.de/10012023148
This paper investigates the effect of the novel coronavirus and crude oil prices on the United States (US) economic policy uncertainty (EPU). Using daily data for the period January 21 – March 13, 2020, our Autoregressive Distributed Lag (ARDL) model shows that the new infection cases reported...
Persistent link: https://www.econbiz.de/10014101240
The aim of this study is to investigate the possible contagion risk coming from energy, food and metals commodity … on quantile regression. This novel methodology allows us first to identify a measure of contagion risk for energy, food … contagion effect of one market is significantly larger than the one of another market. The results show that energy, food and …
Persistent link: https://www.econbiz.de/10012954826
The macro-financial transition risks that result from disorderly transitions to a carbon-free or low-carbon economy may entail significant costs due to the risk of stranded assets, defaults, collapse in stock market value, both for financial firms and non-financial firms. The effects of...
Persistent link: https://www.econbiz.de/10013222483
There is a lot of forward looking work attempting to envisage the decarbonised energy system of the future as reflected … fusion of financial innovation with innovation in the energy system through a theoretical framework that draws on … evolutionary models of paradigm shift. Risks to both the financial and energy systems are characterized as either emanating from …
Persistent link: https://www.econbiz.de/10013084589
The decline in significance given to energy security in recent years can be associated with increasing trust in the … transport sector of the world's economies, which in its turn reflects the strategic dominance of transport within economies. The … largely been exhausted and a more radical approach of opening up new energy vectors to supply the transport sector may be …
Persistent link: https://www.econbiz.de/10011606734
The aim of this study is to investigate the possible contagion risk coming from energy, food and metals commodity … on quantile regression. This novel methodology allows us first to identify a measure of contagion risk for energy, food … contagion effect of one market is significantly larger than the one of another market. The results show that energy, food and …
Persistent link: https://www.econbiz.de/10011656414