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  1. Oil price shocks and the hedging benefit of airline investments
    Autor*in: Güntner, Jochen; Öhlinger, Peter
    Erschienen: [2021]
    Verlag:  Department of Economics, Johannes Kepler University of Linz, Linz-Auhof, Austria

    In the light of finite oil reserves, Persian Gulf oil-exporting economies have recently undertaken major investments in their domestic travel and tourism industries. Building on the Bayesian SVAR model of the global oil market in Baumeister and... mehr

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    DS 398
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    In the light of finite oil reserves, Persian Gulf oil-exporting economies have recently undertaken major investments in their domestic travel and tourism industries. Building on the Bayesian SVAR model of the global oil market in Baumeister and Hamilton (2019), we investigate the conditional comovement of airline stock returns with real oil prices in response to structural oil supply and demand shocks. We find that investing in the Datastream World Airline Index offers a hedging benefit conditional on oil supply, consumption demand, and inventory demand shocks, whereas there is no evidence of systematic positive or negative comovement following shocks to world economic activity and airline stock returns.

     
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/249043
    Schriftenreihe: Working paper / Department of Economics, Johannes Kepler University of Linz ; no. 2114 (July 2021)
    Schlagworte: Airline excess returns; Bayesian SVAR model; Hedging; Oil price shocks
    Umfang: 1 Online-Ressource (circa 51 Seiten), Illustrationen
  2. What do firm managers tell us about the transmission channels of oil price shocks?
    Autor*in: Drechsel, Dirk; Mikosch, Heiner; Sarferaz, Samad; Bannert, Matthias
    Erschienen: 2022-11-28
    Verlag:  KOF, Zurich, Switzerland

    In this paper, we investigate the transmission channels of oil price shocks using a factorial survey. We confront CEOs and CFOs of a representative sample of firms with a hypothetical vignette in which the oil price rises exogenously above managers'... mehr

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    In this paper, we investigate the transmission channels of oil price shocks using a factorial survey. We confront CEOs and CFOs of a representative sample of firms with a hypothetical vignette in which the oil price rises exogenously above managers' baseline expectations. The managers then estimate the short- and medium-term cost, price, and output effects of the shock on their firms. We find that the managers expect the shock to have very different effects on their firms: the cross-sectional distributions of the responses are large, skewed, and have fat tails. Higher firm-specific energy input costs lead managers to expect greater output losses and sales price increases. Higher market power accelerates this input cost effect. Another important determinant is managers' pre-shock uncertainty about business prospects. The importance of the three channels varies considerably across industries.

     
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    Sprache: Englisch
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    Format: Online
    Weitere Identifier:
    hdl: 20.500.11850/584846
    hdl: 10419/278237
    Schriftenreihe: KOF working papers ; no. 507 (November 2022)
    Schlagworte: Oil price shocks; transmission channels; firms; expectations; surveys; vignettes
    Umfang: 1 Online-Ressource (circa 59 Seiten), Illustrationen
  3. The US banks' balance sheet transmission channel of oil price shocks
    Autor*in: Gelain, Paolo; Lorusso, Marco
    Erschienen: [2022]
    Verlag:  Federal Reserve Bank of Cleveland, [Cleveland, OH]

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    Export in Literaturverwaltung   RIS-Format
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Schriftenreihe: Federal Reserve Bank of Cleveland working paper series ; no. 22, 33 (November 2022)
    Schlagworte: Oil price shocks; DSGE models; Financial frictions
    Umfang: 1 Online-Ressource (circa 78 Seiten), Illustrationen
  4. Does the source of the oil price shock matter for inflation in Pakistan
    implications for monetary policy
    Autor*in: Sardar, Naafey; Hyder, Zulfiqar
    Erschienen: November, 2022
    Verlag:  State Bank of Pakistan, Karachi, Pakistan

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    Sprache: Englisch
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    Format: Online
    Schriftenreihe: SBP working paper series ; no. 110
    Schlagworte: Oil price shocks; Inflation; FPAS
    Umfang: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  5. Changes in inflation dynamics in Korea
    global factor, country factor, and their propagation
    Autor*in: Kim, Yun Jung; Kwark, Noh-sun
    Erschienen: 2023. 06
    Verlag:  Bank of Korea, Seoul, Korea

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: BOK working paper ; no. 2023, 11
    Schlagworte: Inflation dynamics; Global factor; Country factor; Oil price shocks; Real exchange rate shocks
    Umfang: 1 Online-Ressource (circa 58 Seiten), Illustrationen