Blar i Norges Banks vitenarkiv på emneord "oil prices"
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Dutch disease dynamics reconsidered
(Working papers;2018/1, Working paper, 2018)In this paper we develop the first model to incorporate the dynamic productivity consequences of both the spending effect and the resource movement effect of oil abundance. We show that doing so dramatically alters the ... -
Inflation expectations and the pass-through of oil prices
(Working Paper;5/2020, Working paper, 2020)Do inflation expectations and the associated pass-through of oil price shocks depend on demand and supply conditions underlying the global market for crude oil? We answer this question with a novel structural vector ... -
Oil price drivers, geopolitical uncertainty and oil exporters’ currencies
(Working Paper;15/2019, Working paper, 2019)Empirical relationships between crude oil prices and exchange rates of oil exporting countries tend to vary over time. I use econometric models of the norwegian and canadian nominal exchange rates to investigate whether ... -
PPP Despite Real Shocks: An Empirical Analysis of the Norwegian Real Exchange Rate
(Working Papers;7/2000, Working paper, 2000)Despite the emerging consensus on the validity of purchasing power parity (PPP) between trading countries in the long run, empirical evidence in favour of the PPP theory is scarce in data predominantly exposed to real ... -
The shale oil boom and the U.S. economy: Spillovers and time-varying effects
(Working Paper;14/2019, Working paper, 2019)We analyze if the transmission of oil price shocks on the U.S. economy has changed with the shale oil boom. To do so, we put forward a framework that allows for spillovers between industries and learning by doing (LBD) ... -
What Drives Oil Prices? Emerging Versus Developed Economies
(Working Papers;11/2012, Working paper, 2012)We analyze the importance of demand from emerging and developed economies as drivers of the real price of oil over the last two decades. Using a factor-augmented vector autoregressive (FAVAR) model that allows us to ...