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  1. The determinants of crude oil prices
    evidence from ARDL and nonlinear ARDL approaches
    Author: Ben Salem, Leila; Nouira, Ridha; Jeguirim, Khaled; Rault, Christophe
    Published: October 2022
    Publisher:  IZA - Institute of Labor Economics, Bonn, Germany

    This paper is an innovative attempt to empirically investigate the determinants of crude oil prices. The main objective is to distinguish between short- and long-term effects of some covariates on oil prices. The autoregressive distributed lag (ARDL)... more

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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 4
    Inter-library loan:
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    This paper is an innovative attempt to empirically investigate the determinants of crude oil prices. The main objective is to distinguish between short- and long-term effects of some covariates on oil prices. The autoregressive distributed lag (ARDL) approach is applied to daily series spanning the period from January 2, 2003, to May 24, 2021, to analyze long-run relationships and short-run dynamics. The paper also focuses on the asymmetric effects of covariates and a nonlinear ARDL (NARDL) approach is used to explore this asymmetry. The use of an asymmetric error correction model with asymmetric cointegration provides new insights for examining the determinants of oil prices. All investigations of underlying oil price fluctuations are examined both before and in the COVID-19 pandemic. Our results, based on different econometric specifications, have key policy implications for policymakers both with and without COVID-19 potential considerations.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/267403
    Series: Discussion paper series / IZA ; no. 15666
    Subjects: crude oil price; ARDL; Nonlinear ARDL; symmetric and asymmetric; COVID-19
    Scope: 1 Online-Ressource (circa 25 Seiten), Illustrationen
  2. Oil price shocks and green bonds
    a longitudinal multilevel model
    Author: Azhgaliyeva, Dina; Mishra, Ranjeeta; Kapsalyamova, Zhanna
    Published: [2021]
    Publisher:  Asian Development Bank Institute, Tokyo, Japan

    This paper contributes to the existing literature by investigating the impacts of crude oil price shocks on financial markets through an examination of the effect of oil price shocks on green bond issuance. Green bond issuance has been growing fast... more

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    Verlag (kostenfrei)
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    Max-Planck-Institut für ausländisches öffentliches Recht und Völkerrecht, Bibliothek
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 188
    Inter-library loan:
    No inter-library loan

     

    This paper contributes to the existing literature by investigating the impacts of crude oil price shocks on financial markets through an examination of the effect of oil price shocks on green bond issuance. Green bond issuance has been growing fast over the past several years; despite this, the share of green bonds in the total bonds remains small. Using the multilevel longitudinal random intercept and random coefficient models, this study investigates the effect of disentangled crude oil price shocks on green bond issuance in the private sector. Unlike the general bond market, our empirical analysis finds that oil supply shocks affect green bond issuance positively. We also find that the public issuance of sovereign green bonds tends to promote the private issuance of green bonds. Our results are robust and hold when using alternative models; they also survive a range of robustness tests.

     
    Export to reference management software   RIS file
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/249457
    Series: ADBI working paper series ; no. 1278 (July 2021)
    Subjects: green bonds; sovereign bonds; green finance; oil shock; policy support; crude oil price
    Scope: 1 Online-Ressource (circa 22 Seiten)