The DOI matches its Crossref record; 35 of the 35 references it cites were found in a registry or an index.
Oil Price Uncertainty
Open accessAbstract
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.
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Cites
Generalized autoregressive conditional heteroskedasticity
Bollerslev, T. (1986) · Journal of Econometrics · doi:10.1016/0304-4076(86)90063-1 · Cited by 22,254
Engle, R. F. (1982) · Econometrica · doi:10.2307/1912773 · Cited by 20,795
Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market
Kilian, L. (2009) · American Economic Review · doi:10.1257/aer.99.3.1053 · Cited by 4,608
Multivariate Simultaneous Generalized ARCH
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Irreversibility, Uncertainty, and Cyclical Investment
Bernanke, B. S. (1983) · The Quarterly Journal of Economics · doi:10.2307/1885568 · Cited by 4,112
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Irreversibility, Uncertainty, and Investment
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Cited by
Wang, Y., Wu, C., & Yang, L. (2013) · Journal of Comparative Economics · doi:10.1016/j.jce.2012.12.004 · Cited by 572
Oil shocks, policy uncertainty and stock market return
Kang, W., & Ratti, R. A. (2013) · Journal of International Financial Markets, Institutions and Money · doi:10.1016/j.intfin.2013.07.001 · Cited by 503
Yu, J., Shi, X., Guo, D., & Yang, L. (2021) · Energy Economics · doi:10.1016/j.eneco.2020.105071 · Cited by 473
NONLINEARITIES AND THE MACROECONOMIC EFFECTS OF OIL PRICES
Hamilton, J. D. (2011) · Macroeconomic Dynamics · doi:10.1017/s1365100511000307 · Cited by 468
The effects of oil price shocks on the Iranian economy
Farzanegan, M. R., & Markwardt, G. (2009) · Energy Economics · doi:10.1016/j.eneco.2008.09.003 · Cited by 428
Metadata
- Authors
- ELDER, J., & SERLETIS, A.
- Venue
- Journal of Money, Credit and Banking
- Publisher
- Wiley
- Published
- 2010-08-19
- Volume
- 42
- Issue
- 6
- Pages
- 1137-1159
- ISSN
- 0022-2879 (ISSN-L)
- 1538-4616
- OpenAlex
- W2039709163
- Cited by
- 653
- References
- 35
- FWCI
- 41.84
- Type
- journal article
- Language
- en
- Open access
- green
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.