Articoli di riviste sul tema "First oil shock"
Segui questo link per vedere altri tipi di pubblicazioni sul tema: First oil shock.
Cita una fonte nei formati APA, MLA, Chicago, Harvard e in molti altri stili
Vedi i top-50 articoli di riviste per l'attività di ricerca sul tema "First oil shock".
Accanto a ogni fonte nell'elenco di riferimenti c'è un pulsante "Aggiungi alla bibliografia". Premilo e genereremo automaticamente la citazione bibliografica dell'opera scelta nello stile citazionale di cui hai bisogno: APA, MLA, Harvard, Chicago, Vancouver ecc.
Puoi anche scaricare il testo completo della pubblicazione scientifica nel formato .pdf e leggere online l'abstract (il sommario) dell'opera se è presente nei metadati.
Vedi gli articoli di riviste di molte aree scientifiche e compila una bibliografia corretta.
1
Lee, Kiseok, Wensheng Kang e Ronald A. Ratti. "OIL PRICE SHOCKS, FIRM UNCERTAINTY, AND INVESTMENT". Macroeconomic Dynamics 15, S3 (novembre 2011): 416–36. http://dx.doi.org/10.1017/s1365100511000496.
Abstract (sommario):
This paper seeks to answer the following questions: Do oil price shocks affect firms' investment decisions? Do oil price shocks affect investment decisions differentially depending on firm-specific uncertainty? Over what time horizon do oil price shocks affect high-uncertainty firms? Is the intensity of the oil price shock important, or just its existence? It is found that oil price shocks depress firms' investment decisions, and do so differentially by depressing investment more for more uncertain firms. Oil shocks affect investment for at least the first and second year after the shock. In the short term, the mere existence of a shock drives most of the effect. In the long term, the intensity of the oil shock is also important. Bloom, Bond, and Van Reenan's result [Review of Economic Studies 74, 391–415 (2007)] regarding responsiveness to demand shocks being eroded at more uncertain firms for data on U.K. firms is replicated using data on U.S. firms and persists after oil shocks are considered.
2
Fattahi, Shahram, Zainab Moridi e Rasoul Moridi. "The Impact of Oil Shocks on Exchange Rates: The Case of Selected OPEC Countries". Applied Finance and Accounting 7, n. 2 (11 marzo 2021): 1. http://dx.doi.org/10.11114/afa.v7i2.5188.
Abstract (sommario):
OPEC countries are heavily dependent on oil dollar revenues through which impact on exchange rates. The purpose of this study is to investigate the effect of oil shocks on the real exchange rates for selected OPEC countries for the period 1980-2018. The oil shocks are first obtained using the vector auto-regression model and then their effects on the exchange rates are estimated using a panel quantile regression model. The results show that effect of oil shocks on exchange rates varies across quantiles. The oil specific-demand shock and global demand shock have a negative and significant effect on the real exchange rates while the oil supply shock has a positive and significant effect on the real exchange rates in OPEC countries. Furthermore, oil specific-demand shock has the most impact on the real exchange rates.
3
Zhang, Rufei, Haizhen Zhang, Wang Gao, Ting Li e Shixiong Yang. "The Dynamic Effects of Oil Price Shocks on Exchange Rates—From a Time-Varying Perspective". Sustainability 14, n. 14 (11 luglio 2022): 8452. http://dx.doi.org/10.3390/su14148452.
Abstract (sommario):
This study investigates the time-varying effects of three types of oil price shocks (oil demand, supply, and risk shock) on exchange rates by applying the time-varying parameter structural vector autoregression stochastic volatility (TVP-SVAR-SV) model. Through examining the impulse response of exchange rates to oil price shocks at different lag periods and time points, this paper contributes to the existing literature on the dynamic relationship between oil shocks and exchange rates. From the response at different lag periods, we find that oil price shocks have a significant time-varying impact on the exchange rate, among which oil demand shock has the most significant effect. The response of the exchange rate market to oil price shock shows an obvious short-term time-varying effect and is positive and negative alternately, with a certain periodicity. From the response at different time points, the time-varying effect of oil price shock on exchange rates is related to external shock, and is more intense during the global economic and political turmoil. This is the first empirical study using a novel method to examine the time-varying effects of oil price shock from different sources on exchange rates, providing investors and policy makers assistance to manage foreign exchange during global turmoil periods.
4
Mihut, Marius Ioan, e Decean Liviu Daniel. "First Oil Shock Impact on the Japanese Economy". Procedia Economics and Finance 3 (2012): 1042–48. http://dx.doi.org/10.1016/s2212-5671(12)00271-7.
5
Castro, César, Rebeca Jiménez-Rodríguez e Renatas Kizys. "Time-Varying Relation between Oil Shocks and European Stock Market Returns". Journal of Risk and Financial Management 16, n. 3 (5 marzo 2023): 174. http://dx.doi.org/10.3390/jrfm16030174.
Abstract (sommario):
This paper considers a time-varying parameter vector autoregression model to analyze the varying impact of three types of structural oil shocks (the supply-side shock, the aggregate demand shock, and the oil-specific demand shock) on the European stock market since the 1990s. Our findings show that the three types of oil shocks heterogeneously influence stock market returns in the euro area, and that this influence considerably changes over time during the period considered. First, an unexpected increase in oil supply appears to exert a positive but generally declining effect in the period before the Global Financial Crisis (GFC) of 2007–2009, which descends into negative values after the GFC. Second, an unanticipated increase in aggregate demand triggers a generally positive effect on stock market returns in the euro area. However, in the period from 2003 to 2005, stock market returns responded negatively, which could be attributed to the so-called growth-retarding effect. Third, an unexpected increase in oil-specific demand instigates a negative response in the pre-GFC period (considering the response 4–5 months after the shock), although this changes to a positive effect thereafter. Interestingly, irrespective of the origin of oil price fluctuations, oil price increases are associated with positive European stock market returns after the GFC. This signals a greater degree of oil market financialization.
6
Sadath, Anver Chittangadan, e Rajesh Herolli Acharya. "The macroeconomic effects of increase and decrease in oil prices: evidences of asymmetric effects from India". International Journal of Energy Sector Management 15, n. 3 (8 febbraio 2021): 647–64. http://dx.doi.org/10.1108/ijesm-02-2020-0009.
Abstract (sommario):
Purpose The purpose of this paper is to assess whether oil price shocks emanating from oil price increase and decrease have a different impact on the macroeconomic activity. Design/methodology/approach This study conducts the empirical analysis using structural vector auto-regressive model on Indian data for the period from 1996 to 2017. This paper uses four key macroeconomic variables, namely, real gross domestic product (GDP), the real rate of interest, real money supply, wholesale price index inflation and various linear and non-linear measures of oil price shock. Findings Empirical results confirm that oil price shock has a significant impact on various macroeconomic variables used in the study. Specifically, shocks emanating from a decline in oil price have a stronger positive impact on real GDP, whereas, a shock due to the rise in oil price has a weaker negative impact on real GDP. Impulse responses confirm that shocks due to a decline in oil prices are long-lasting compared to similar shocks due to a rise in oil prices. Therefore, this study concludes that the macroeconomic impact of oil price shock is asymmetric in India. Originality/value This paper adds the following new insights: First, this paper presents a distinct relationship between the growth rate of oil price and GDP during increasing and decreasing phases of oil price to drive home the case for this study. Second, India has adopted crucial administrative initiatives such as deregulation of the market for petroleum products and the promotion of renewable energy during the study period. Finally, previous studies have revealed specific behavioral and economic features of people in India with respect to the demand for petroleum products. In light of these factors, this paper based on Indian experience would be justified.
7
Herrera, Ana María. "OIL PRICE SHOCKS, INVENTORIES, AND MACROECONOMIC DYNAMICS". Macroeconomic Dynamics 22, n. 3 (30 gennaio 2018): 620–39. http://dx.doi.org/10.1017/s1365100516000225.
Abstract (sommario):
This paper investigates the time delay in the transmission of oil price shocks using disaggregated manufacturing data on inventories and sales. VAR estimates indicate that industry-level inventories and sales respond faster to an oil price shock than aggregate gross domestic product, especially in industries that are energy-intensive. In response to an unexpected oil price increase, sales drop and inventories are accumulated. This leads to future reductions in production. We estimate a modified linear–quadratic inventory model to inquire whether the patterns observed in the VAR impulse responses are consistent with rational behavior by the firms. Estimation results suggest that three mechanisms play a role in the industry-level dynamics. First, oil prices act as a negative demand shock. Second, the shock catches manufacturers by surprise, resulting in higher-than-anticipated inventories. Third, because of their desire to smooth production, manufacturers deviate from the target level of inventories and spread the decline in production over various quarters; hence the delay in the response of aggregate output.
8
Lukasevich, I. Ya. "The impact of oil shocks on the Russian stock market: an empirical study". Management and Business Administration, n. 2 (giugno 2020): 121–33. http://dx.doi.org/10.33983/2075-1826-2020-2-121-133.
Abstract (sommario):
The paper is devoted to the study of approaches to assessing the impact of external macroeconomic shocks on the Russian stock market. A sharp drop in oil prices (oil shock) is considered as a macroeconomic shock. The analysis of possible approaches to solving this problem is carried out, and their theoretical generalization is given. Based on an extensive sample of daily values of prices for Brent oil and the Russian stock index RTS for the period from 1998 to the first half of 2020, a study was conducted on the dependence of the domestic stock market on the global oil market. An approach to assessing the impact of oil shocks based on the use of vector autoregression models (VAR-model) is proposed. The VAR model has been developed and tested for the Russian stock market, its capabilities and limitations have been shown, and practical recommendations for its further development have been provided.
9
Chinoy, Sajjid Z., e Toshi Jain. "What Does Oil in Triple Digits Mean for India?" Indian Public Policy Review 3, n. 2 (Mar-Apr) (18 marzo 2022): 1–14. http://dx.doi.org/10.55763/ippr.2022.03.02.001.
Abstract (sommario):
The Russia-Ukraine conflict is expected to impact India’s economy through several channels but we posit first order impacts will emanate from higher crude prices. If crude prices were to average $100/barrel in 2022, they will constitute a discernible adverse terms of trade shock for India’s economy that could shave a percentage point off India’s growth, pressure inflation further and widen the current account deficit towards 3% of GDP. How should policy respond? A negative terms of trade shock would argue for a more depreciated equilibrium real effective exchange rate. Policymakers should let this adjustment gradually take place to enable the corresponding “expenditure switching” needed to bring external imbalances back to sustainable levels. A sustained supply shock will make the trade-off for monetary policy more acute, with downside risks to growth accompanied by upside risks to inflation expectations. While the 2022-23 Budget created buffers to protect against shocks, fiscal policy will face its own set of trade-offs in simultaneously attempting to accommodate the shock, support growth and preserve macroeconomic stability. Beyond the near term, policymakers must consider systematically hedging crude price imports in global markets to protect the economy from periods of outsized volatility, apart from the medium-term objective of reducing dependence on imported crude.
10
Cohen, Jordan. "The First Oil Shock? Nixon, Congress, and the 1973 Petroleum Crisis". Journal of the Middle East and Africa 12, n. 1 (2 gennaio 2021): 49–68. http://dx.doi.org/10.1080/21520844.2021.1886501.
11
ASAKURA, FUMIOKI, e MITSURU YAMAZAKI. "VISCOUS SHOCK PROFILES FOR 2 × 2 SYSTEMS OF HYPERBOLIC CONSERVATION LAWS WITH AN UMBILIC POINT". Journal of Hyperbolic Differential Equations 06, n. 03 (settembre 2009): 483–524. http://dx.doi.org/10.1142/s0219891609001903.
Abstract (sommario):
This article analyzes the existence of viscous shock profiles joining two states satisfying the Rankine–Hugoniot condition that comes from hyperbolic 2 × 2 systems of conservation laws having quadratic flux functions with an isolated umbilic point: the point where the characteristic speeds coincide and the Jacobian matrix of the flux functions is diagonalizable. The systems studied in this note are particularly in Schaeffer and Shearer's cases I and II which are relevant to the three-phase Buckley–Leverett model for oil reservoir flow. It is shown that any compressive and overcompressive shocks have a viscous shock profile provided that there are no undercompressive shock with viscous profile having the same propagation speed. The idea of the proof is a generalization of the first theorem of Morse to noncompact level sets. It is also shown that there exists a shock satisfying the Liu–Oleĭnik condition but having no viscous shock profile. In this case, there is an undercompressive shock with viscous shock profile.
12
HEIDARPOUR, Afshin, Mosayeb PAHLAVANI, Mohamadnabi SHAHIKI TASH e Seyedkomail TAYEBI. "A New Keynesian Framework for Monetary Policy Analysis in Iran’s Economy. A Dynamic Stochastic General Equilibrium Approach". Theoretical and Practical Research in the Economic Fields 6, n. 2 (31 dicembre 2015): 97. http://dx.doi.org/10.14505/tpref.v6.2(12).01.
Abstract (sommario):
This paper focuses on New Keynesian framework for monetary policy analysis of Iran. It considers a dynamic stochastic general equilibrium (DSGE) models. This article expands a sensitivity analysis of the optimal rules to deep structural parameters and investigating properties of an optimal simple rule with respect to prevailing type of shocks which is the main purpose of the article. Finally, the study highlights how an optimal policy rule depends on model structure, on the model calibration and nominal rigidities.
According to the research findings, based on the theoretical expectations, the effect of a positive shock inflicted on the government investment leads to an increase and gradual accumulation of fixed capital formation in the public sector. Among estimated parameters, consumption is the first affected and reduces, then employment increases consequently, finally production will also be affected. Also with the shock of oil revenues, increased oil revenues which results in public investment at first, because of the increase in oil revenues, the government enhances development expenditure. Though, increase in development expenditure is more than increase in current expenditure. Enhancing development expenditure and construction spending causes total spending increase. As a result of increased production of oil income, consumption and total investment will rise. This leads to inflation too.
13
Barsky, Robert B., e Lutz Kilian. "Oil and the Macroeconomy Since the 1970s". Journal of Economic Perspectives 18, n. 4 (1 novembre 2004): 115–34. http://dx.doi.org/10.1257/0895330042632708.
Abstract (sommario):
Increases in oil prices have been held responsible for recessions, periods of excessive inflation, reduced productivity and lower economic growth. In this paper, we review the arguments supporting such views. First, we highlight some of the conceptual difficulties in assigning a central role to oil price shocks in explaining macroeconomic fluctuations, and we trace how the arguments of proponents of the oil view have evolved in response to these difficulties. Second, we challenge the notion that at least the major oil price movements can be viewed as exogenous with respect to the US macroeconomy. We examine critically the evidence that has led many economists to ascribe a central role to exogenous political events in modeling the oil market, and we provide arguments in favor of ‘reverse causality’ from macroeconomic variables to oil prices. Third, although none of the more recent oil price shocks has been associated with stagflation in the US economy, a major reason for the continued popularity of the oil shock hypothesis has been the perception that only oil price shocks are able to explain the US stagflation of the 1970s. We show that this is not the case.
14
CHITADZE, Nika. "The Role of the OPEC in the International Energy Market". Journal of Social Sciences 1, n. 1 (30 maggio 2012): 5–12. http://dx.doi.org/10.31578/jss.v1i1.28.
Abstract (sommario):
The paper analyzes the policy of OPEC and its influence on the global prices of oil during different periods of the history of Cartel since its foundation till now. Particularly it provides information about the prehistory of the establishment of the Organization in the beginning of 60s of the last century and its First Steps. The research goes deeply through the role of the OPEC in causing the first oil shock (1973 – 1975) and the second oil shock (1979 – 1980). The paper includes the main reasons of the collapse of oil prices in the 1980s and the low prices in the 1990s. Furthermore, it analyzes the role of OPEC and main reasons of the uprising prices on Oil in 2000s and policy of the cartel during International financial crises (2008 – 2010).
15
Du, Siyuan, Changming Zhang, Ke Zhou e Zhixin Zhao. "Study of the Two-Phase Flow Characteristics of a Damping Orifice in an Oleo-Pneumatic Shock Absorber". Fluids 7, n. 12 (22 novembre 2022): 360. http://dx.doi.org/10.3390/fluids7120360.
Abstract (sommario):
The oleo-pneumatic shock absorber involves a complex two-phase flow in the working process. In this paper, a simple oleo-pneumatic shock absorber model was established, and the volume-of-fluid (VOF) two-phase flow model was adopted to accurately simulate the distribution of the two-phase flow field in the shock absorber through the commercial software FLUENT 2020 R2. The accuracy of the simulation model was verified by the method of engineering damping force estimation, and the error of the numerical simulation results compared with the engineering estimation results was 7–8%. By numerical simulation, the influence of different orifice lengths and diameters on the maximum pressure, temperature, velocity and oil damping force inside the shock absorber was studied. The results showed that with the increase of the orifice length, the maximum pressure, flow rate and oil damping force in the shock absorber decreased. The temperature decreased first and then increased, but the overall effect was small. However, according to the oil volume fraction contour, the gas–liquid distribution in the shock absorber with an orifice larger than 15 mm was more chaotic. Increasing the diameter of the orifice had a great impact on the shock absorber. The maximum pressure, flow rate and damping force of the oil inside the shock absorber were sharply reduced, and the temperature continued to rise. These research results can provide reference for the optimization design of oleo-pneumatic shock absorbers.
16
Stanovnik, Tine. "Household energy consumption in Slovenia ten years after the first oil shock". Energy Policy 14, n. 3 (giugno 1986): 272–80. http://dx.doi.org/10.1016/0301-4215(86)90149-7.
17
Ozigbu, Johnbosco Chukwuma. "Oil Price Shock and Trade Balance in Nigeria". IIARD International Journal of Economics and Business Management 9, n. 5 (9 febbraio 2024): 13–25. http://dx.doi.org/10.56201/ijebm.v9.no5.2023.pg13.25.
Abstract (sommario):
This study used the Brent crude oil price to examine whether the variability in the trade balance of Nigeria is linked to the fluctuation in oil price.To achieve this, the study used annual frequency data from 1981 to 2021 sourced from the United Nations Conference on Trade and Development (UNCTAD), the World Bank’s World Development Indicator (WDI), and the Central Bank of Nigeria (CBN) Statistical Bulletin. The bound test procedure to cointegration was adopted and the nexus between oil shock and trade balance was examined within the autoregressive distributed lag (ARDL) framework. Additionally, the augmented Dickey-Fuller approach to unit root was used in determining the degree of integration of the series. Certain findings were made from the analyses. First, the study confirmed that there is long-run relationship among the variables. Second, oil price hikes lead to a surplus trade balance in the long run, but only insignificantly. Contrariwise, the positive impact of oil price hikes on the trade balance in the short run was significant. Third, the study found that inflation had an insignificant positive effect on the trade balance. Fourth, the estimation revealed that an increase in real effective exchange rate and trade openness is insignificant and lead to a deficit trade balance in the long run. The study recommends that domestic oil shocks in the form of low oil production should be mitigated by addressing the security challenges in the country.
18
Liang, Liang, Liang Tian, Yun Qing Zhang e Jie Zhang. "Twin Tube Shock Absorber Thermo-Mechanical Coupling Simulation". Advanced Materials Research 566 (settembre 2012): 669–75. http://dx.doi.org/10.4028/www.scientific.net/amr.566.669.
Abstract (sommario):
During the working process, temperature of the oil increases and its viscosity decreases due to the damping force, resulting in changes in operating characteristics of the shock absorber. This paper firstly analyzes the mechanism of themogenesis and heat transfer means of shock absorber in details, and then establishes the thermodynamic model of shock absorber with the energy conservation law and the first law of thermodynamics on this basis. After a comparison between the simulation results and the experimental results, causes of error will be analyzed. The study shows that the more influential correlations are the internal flow convection correlation used between the oil of the different chambers and the tubes of the shock absorber and the external flow convection correlation between the outside tube of the shock absorber and the ambient air.
19
Dadkhah, Kamran M. "The Inflationary Process of the Iranian Economy, 1970–1980". International Journal of Middle East Studies 17, n. 3 (agosto 1985): 365–81. http://dx.doi.org/10.1017/s0020743800029251.
Abstract (sommario):
During the past decade, the Iranian economy has experienced two severe shocks. The first was the huge increase in oil revenues and the subsequent increase in government expenditures. The second was the Iranian revolution, with the concomitant flight of capital and production setbacks. The first shock produced in the Iranian economy severe inflation that, although not unfamiliar to the Iranians, has been unprecedented in scale and is still accelerating. Analysis of the causes of this inflation is important for understanding the course of events and for predicting future trends.
20
Michail, Nektarios A., Konstantinos D. Melas e Kyriaki G. Louca. "Determinants of Ship Management Revenues: The Case of Cyprus". Economies 11, n. 7 (7 luglio 2023): 184. http://dx.doi.org/10.3390/economies11070184.
Abstract (sommario):
We explore, for the first time in the literature, how the revenues of ship management companies respond to macroeconomic exogenous shocks. Using data for ship-management companies in Cyprus, we find evidence that a demand shock has the largest impact on revenues, exhibiting an almost one-for-one relationship. If the demand shock is permanent, we observe a ceteris paribus permanent effect on revenues. Similarly, this occurs irrespective of the final effect that demand has on the relevant freight rate, proxied via the Baltic dry and tanker (dirty and clean) indices. The BDI and the BDTI indices have a smaller effect on revenues, standing at approximately 0.05% for every 1% shock, while the clean tanker index does not have an effect, most likely due to their fleet composition. In accordance with the literature, we find that a shock in the price of Brent oil increases revenues. Our results bear importance not only for ship management companies per se, but also for countries that are ship management hubs.
21
Campbell, Burnham O. "Asian and Pacific Developing Economies: Performance and Issues". Asian Development Review 05, n. 01 (gennaio 1987): 1–43. http://dx.doi.org/10.1142/s0116110587000010.
Abstract (sommario):
The expansionary and inflationary world economy of the 1970s was brought about by the expansionary and inflationary financing, especially by the United States, of the first oil shock in 1973. The decision of the United States to offset rather than to accommodate the second oil shock in 1979 led to a new environment and set of economic problems for the developing economies, particularly in the Asian and Pacific region. Outward-looking development policies seemed a less attractive response to the oil shock mainly because the world recession brought about record levels of real interest rates, a stronger U.S. dollar, decelerating inflation and, for the developing countries, worsening terms of trade. Further, there was rising protectionism fueled by demographic changes and high levels of structural unemployment. Also, the U.S. budget deficit widened…
22
Henzel, Steffen R., e Elisabeth Wieland. "INTERNATIONAL SYNCHRONIZATION AND CHANGES IN LONG-TERM INFLATION UNCERTAINTY". Macroeconomic Dynamics 21, n. 4 (8 aprile 2016): 918–46. http://dx.doi.org/10.1017/s1365100515000772.
Abstract (sommario):
We investigate the international linkages of uncertainty associated with the long-term movements of inflation. In the first step, we establish that inflation uncertainty in the G7 is intertwined, and the degree of synchronization has increased during the recent two decades. We also document a rise in inflation uncertainty accompanying the global financial crisis. Based on a factor–structural vector autoregression, we provide evidence of a common international shock. We disclose that this shock is closely related to oil and commodity price uncertainty, and it explains large parts of the recent rise in inflation uncertainty. Moreover, increased synchronization can be explained by greater relative importance of this global shock. We also document that inflation uncertainty has become more stable, because domestic shocks translate less extensively into individual economies. This finding lends support to the “good policy” hypothesis.
23
Azer Gasimli, Elshan Aliyev, Azer Gasimli, Elshan Aliyev. "WELL TO INCREASE SLUDGE OIL PRODUCTION ABOUT THE APPLICATION OF WAVE TECHNOLOGY THROUGH THE SYSTEM". ETM - Equipment, Technologies, Materials 19, n. 01 (25 gennaio 2024): 171–76. http://dx.doi.org/10.36962/etm19012024-171.
Abstract (sommario):
The article talks about the results of the work on increasing the oil yield of the formations by applying the shock wave technology. It is noted that when applying the shock wave method to the layer: first - the expansion of the feeding contour of the wells as a result of the increase in permeability of the collector in the bed, the second - due to the decrease in the viscosity of the oil, its filtration will improve. It is recommended to improve the equipment used to get higher results from the application of the method. Keywords: shock-wave, elastic wave, seismoacoustic, vibration, perforation, rheological property.
24
Komail Tayebi, Seyed, e Mehdi Yazdani. "Financial crisis, oil shock and trade in Asia". Journal of Economic Studies 41, n. 4 (8 luglio 2014): 601–14. http://dx.doi.org/10.1108/jes-04-2011-0053.
Abstract (sommario):
Purpose – In this paper the authors address the questions whether global financial crises cause oil shocks worldwide, then whether such shocks affect trade flows of both oil importing and oil exporting countries of East-West Asia. The purpose of this paper is thus to explore such effects by specifying basically a dynamic export model using data of the Asian economies countries over the period 1980-2008. Design/methodology/approach – An ARDL specification is applied to show the dynamic effects of main determinants, including financial crisis and the world oil price, on the export flows of each country in the sample. The data for financial crisis have been compiled by Hatzius et al. (2010). Findings – The results, as a whole, imply that both financial crisis and oil price have a cross-effects on Asian trade flows in the short run, while this effects could not occur in the long run. Originality/value – The goal is to estimate an econometric model of exports to examine how recent crises affect export flows in the selected Asian countries. Different from previous studies in the literature, this paper first explores the interaction between financial crisis and oil shocks and second uses an extended and dynamic export model, based on ARDL approach. The core of the study relies on the question whether a cross-relationship between oil price and financial crisis affects the export flows of the Asian countries: China, Japan, Iran, Malaysia, Saudi Arabia, South Korea and Turkey which are both oil importing and exporting.
25
Pokrivčák, J., e M. Rajčaniová. "Crude oil price variability and its impact on ethanol prices". Agricultural Economics (Zemědělská ekonomika) 57, No. 8 (23 agosto 2011): 394–403. http://dx.doi.org/10.17221/42/2010-agricecon.
Abstract (sommario):
The world annual biofuel production has exceeded 100 billion litres in 2009. The development of the biofuel production is partly influenced by the government support programs and partly by the development of oil prices. The main purpose of this paper is to analyze the statistical relationship between ethanol, gasoline and crude oil prices. We aim to check the correlation among these variables and to analyze the strength and direction of a possible linear relationship among the variables. We are interested in analyzing how each variable is related to another, so we evaluate the inter-relationship among the variables in the Vector Autoregression (VAR) and the Impulse Response Function (IRF). In order to achieve our goal, we first collected weekly data for each variable from January, 2000 to October, 2009. The results provide evidence of the cointegration relationship between oil and gasoline prices, but no cointegration between ethanol, gasoline and ethanol, oil prices. As a result, we used a VAR model on first differences. After running the Impulse Response Function, we found out that the impact of the oil price shock on the other variables is considerable larger than vice versa. The largest impact of oil price shock was observed on the price of gasoline.
26
Koojaroenpaisan, Rawiporn, e Paul Patterson. "GAZI and the Shock Absorber Market in Thailand". Asian Case Research Journal 17, n. 02 (dicembre 2013): 243–66. http://dx.doi.org/10.1142/s0218927513500119.
Abstract (sommario):
Siam Suspension Innovation Co. Ltd. (SSI) in 2004 manufactured the first local brand of shock absorber for motor cycles (GAZI brand) in Thailand. This case documents how several entrepreneurs with a passion for motorcycles grasped an opportunity to invent, manufacture and successfully brand a decorative shock absorber for the ubiquitous motorcycle riders of Thailand. Prior to the development of the GAZI brand, shock absorbers were simply just another OEM (original equipment manufacturer) component on a motor bike that was typically only replaced when it was worn out. Shock absorbers were differentiated on their performance characteristics of smoothness of ride. Siam Suspension Company (SSI) changed all that with their decorative GAZI brand that had a mass appeal to consumers under 25 years who possessed a 125–150cc motorcycle (by far the largest segment) who simply wanted their motorcycles to look attractive. Rather than compete in the high volume, low margin standard shock absorber segment, SSI positioned GAZI as a decorative shock absorber. However, because GAZI used a new innovative gas filled technology (all other brands used oil filled cylinders) it also gave a much smoother ride on the rough roads of Thailand. GAZI's management initially created a “first-mover” advantage by targeting Gen Y consumers and convincing them to use shock absorbers to decorate their motorcycles. Hence a replacement market was born for decorative shock absorbers, with many riders replacing the OEM shocks as soon as they purchased a new motorcycle. Sales grew at a rapid pace until other manufacturers of standard shocks saw the success of GAZI. At this time the barriers to entry were quite low. As a SME (small to medium size enterprise) with limited capital, the challenge for SSI in 2012 is how to regroup and stay one step ahead of the competition and protect its market share from further erosion.
27
Glazov, Alexandr. "The COMECON Internal Analysis of the Prospects for the Development of Oil Cooperation with Iraq in the 1970s". ISTORIYA 14, n. 10 (132) (2023): 0. http://dx.doi.org/10.18254/s207987840028563-8.
Abstract (sommario):
October 2023 marks the 50th anniversary of the moment when the world faced the first oil shock of 1973—1974. As time has shown, its influence (along with the influence of the second oil shock of 1979—1980) turned out to be significant not only for the “Capitalist Bloc”, but also for the “Socialist Camp”. On the eve of the first oil shock, in the spring and summer of 1973, a new working body was created within the framework of the Comecon (its Standing Commission on Foreign Trade), the so-called Petroleum Bureau. It was the Petroleum Bureau that in 1973—1978 represented the main coordinating and analytical center of interested Comecon members in the field of taking coordinated steps by the «Socialist Bloc» to build effective foreign economic cooperation with the developing countries that produced liquid hydrocarbons. Among the key activities of the Bureau was the country analysis, which, as a rule, included: a concise economic description of the oil-producing developing countries selected by Comecon for rapprochement; a brief assessment of their domestic political situation, main features and problems of their socio-economic development; information about national companies of these countries in the field of fuel and energy, about their national oil reserves and conditions of oil production, as well as their export capabilities and import needs; information on the possibilities of Comecon members coordinated activity in local markets and multilateral cooperation in various economic sectors in order to ensure a continuous flow of primary energy resources from the “developing world”. In this article, for the first time, the document “Generalized material for the development of practical integrated steps of Comecon members cooperation aimed at timely provision of oil purchases in Iraq on a long-term basis”, stored today in the Russian State Archive of Economics (RGAE), is published and introduced into scientific circulation as an example of Comecon Petroleum Bureau country analysis. The published document confirms Comecon good awareness of what was happening to the oil industry and the economy of Iraq in the first half of seventies.
28
Effah-Mensah, David, e Ebenezer Essiam. "Exchange Rate Pass-Through to Domestic Inflation in Ghana". Business Economic, Communication, and Social Sciences Journal (BECOSS) 6, n. 1 (31 gennaio 2024): 1–12. http://dx.doi.org/10.21512/becossjournal.v6i1.10872.
Abstract (sommario):
The current study estimates the exchange rate pass-through on domestic prices from January 2013 to December 2018, using a recursive vector autoregressive model (VAR). Applying Cholesky decomposition to the model, six variables were ordered as follows: oil prices, output gap, exchange rate, import prices, overall inflation and Treasury bill rate with an assumption that the identified shocks contemporaneously impact variables which are ordered after the shock without any contemporaneous feedback. We find evidence of incomplete exchange rate pass-through to domestic prices. Thus, domestic price changes by 9.6 percent in the first three months following an exchange rate shock and the shock dies out after a year with a total pass-through effect of 10.7 percent. We also find that, exchange rate effect is more pronounced for the imported prices than the overall inflation, suggesting some moderation of pass-through effect in domestic price dynamics.
29
Asima Siddique, Ali Ijaz, Humaira Akram, Zeeshan Khan e Muhammad Asif Khan. "Asymmetric impact of coronavirus news, fear index, oil price on United States equity market: the first study on Infectious Disease EMV index". International Journal of Social Science & Entrepreneurship 4, n. 1 (30 gennaio 2024): 250–70. http://dx.doi.org/10.58661/ijsse.v4i1.262.
Abstract (sommario):
The first novel paper investigates the effect of the Coronavirus crisis (USCOVID-19), fear index, and oil price on the United States equity market price. Our study first time used the novel proxy of the fear index (Infectious Disease EMV index) developed by Baker et al. (2020). The recent paper collected the data from 21 January 2020 which is the start of novel coronavirus (COVID-19) in America (US) up till the 6 July 2021. The paper has used the linear model of Nonlinear Autoregressive distributed lag (NARDL) to confirm the causal factors (short-long run) of DJI. The result depicts that two out three exogenous (independent) variables USCOVID_19 and Infectious Disease EMV significantly negatively related to co-integrated with the United States equity market (DJI) in both positive and negative shocks except IDEMV negative shock are insignificant. While oil is significantly positively co-integrated with the DJI index in both positive and negative. In the case of long term co-integration all variables OIL, USCOVID_19, and Infectious Disease EMV are significantly co-integrated in case of positive shocks but insignificant in case of negative shocks. Our study is beneficial for individual and government investors by identify an important investment (Infectious Disease EMV index) when they want to diversify their portfolio. This incorporate the factor contagious Infectious Disease in EMV, so it is more helpful for sectoral investor when the measure asymmetric volatilities factors.
30
Saadaoui, Amir, Kais Saidi e Mohamed Kriaa. "Transmission of shocks between bond and oil markets". Managerial Finance 46, n. 10 (26 maggio 2020): 1231–46. http://dx.doi.org/10.1108/mf-11-2019-0554.
Abstract (sommario):
PurposeThis paper aims at looking into the transmission of shocks between bond and oil markets using a bivariate GARCH (BEKK and DCC) model. As lots of financial assets have been exchanged due to these index returns, it is essential for financial market participants to figure out the mechanism of volatility transmission through time and via these series for the purpose of taking optimal decisions of portfolio allocation. The outcomes drawn reveal an important volatility transmission between sovereign bond and oil indices, with great sensitivity during and after the subprime crisis period.Design/methodology/approachIn this context, we propose our hypotheses. Indeed, our study aims to see whether the financial crisis has been responsible for the sharp drop in oil prices since October 2008. To this end, we suggest, in this paper, the empirical study of the shock transmission between the bond and oil markets, using BEK-GARCH and DCC models. To our knowledge, this is the first document using the BEKK-GARCH and the DCC models in studying the shock transmission between a sovereign bond and oil indices.FindingsWe have noticed that in the event of a disruption in the bond market, oil prices respond to these shocks in the short term. It has also been emphasized, however, that this relationship has exacerbated if the period has extended. This makes us conclude that the financial market situation affects the oil price only throughout the crisis period; and that this situation is causally significant only in the event of a severe crisis, such as those of subprime and sovereign debt.Originality/valueThe global financial system has been going through an acute crisis since mid-2007. This crisis, initially occurred only in the US real estate market, progressively affects the global financial system, and is now becoming a general economic crisis. The objective of this work is to analyze the effects of the current financial market disturbance on oil prices based on econometric models in order to promote the proper functioning of this study.
31
Hu, John Wei-Shan, Yi-Chung Hu e Chien-Yu Lin. "Effect of Temperature Shock and Inventory Surprises on Natural Gas and Heating Oil Futures Returns". Scientific World Journal 2014 (2014): 1–10. http://dx.doi.org/10.1155/2014/457636.
Abstract (sommario):
The aim of this paper is to examine the impact of temperature shock on both near-month and far-month natural gas and heating oil futures returns by extending the weather and storage models of the previous study. Several notable findings from the empirical studies are presented. First, the expected temperature shock significantly and positively affects both the near-month and far-month natural gas and heating oil futures returns. Next, significant temperature shock has effect on both the conditional mean and volatility of natural gas and heating oil prices. The results indicate that expected inventory surprises significantly and negatively affects the far-month natural gas futures returns. Moreover, volatility of natural gas futures returns is higher on Thursdays and that of near-month heating oil futures returns is higher on Wednesdays than other days. Finally, it is found that storage announcement for natural gas significantly affects near-month and far-month natural gas futures returns. Furthermore, both natural gas and heating oil futures returns are affected more by the weighted average temperature reported by multiple weather reporting stations than that reported by a single weather reporting station.
32
Mei, Xiao Qin, Guo Fu Yin e Yang Luo. "Research on FDM Technique for the First Die of Matrix PDC Bit". Key Engineering Materials 522 (agosto 2012): 192–96. http://dx.doi.org/10.4028/www.scientific.net/kem.522.192.
Abstract (sommario):
Polycrystalline Diamond Compact Bit is a new type of drilling tools, which has been developed with the developing of Polycrystalline Diamond Compact Technology. Because of excellent abilities of anti-erosion and shock resistance, PDC bit has higher security and efficiency than rock bit in drilling field [. It has been used more and more in oil drilling and coal drilling, especially, in offshore drilling, ultra-deep drilling and slim-hole drilling [.
33
Rebar, A. H., T. P. Lipscomb, R. K. Harris e B. E. Ballachey. "Clinical and Clinical Laboratory Correlates in Sea Otters Dying Unexpectedly in Rehabilitation Centers Following the Exxon Valdez Oil Spill". Veterinary Pathology 32, n. 4 (luglio 1995): 346–50. http://dx.doi.org/10.1177/030098589503200402.
Abstract (sommario):
Following the Exxon Valdez oil spill, 347 oiled sea otters ( Enhydra lutris) were treated in rehabilitation centers. Of these, 116 died, 94 within 10 days of presentation. Clinical records of 21 otters dying during the first 10 days of rehabilitation were reviewed to define the laboratory abnormalities and clinical syndromes associated with these unexpected deaths. The most common terminal syndrome was shock characterized by hypothermia, lethargy, and often hemorrhagic diarrhea. In heavily and moderately oiled otters, shock developed within 48 hours of initial presentation, whereas in lightly oiled otters shock generally occurred during the second week of captivity. Accompanying laboratory abnormalities included leukopenia with increased numbers of immature neutrophils (degenerative left shift), lymphopenia, anemia, azotemia (primarily prerenal), hyperkalemia, hypoproteinemia/hypoalbuminemia, elevations of serum transaminases, and hypoglycemia. Shock associated with hemorrhagic diarrhea probably occurred either as a direct primary effect of oiling or as an indirect effect secondary to confinement and handling in the rehabilitation centers. Lightly oiled otters were less likely to die from shock than were heavily oiled otters (22% vs. 72%, respectively). Heavily oiled otters developed shock more rapidly and had greater numbers of laboratory abnormalities, suggesting that exposure to oil was an important contributing factor.
34
Mezghani, Taicir, e Mouna Boujelbène. "The contagion effect between the oil market, and the Islamic and conventional stock markets of the GCC country". International Journal of Islamic and Middle Eastern Finance and Management 11, n. 2 (18 giugno 2018): 157–81. http://dx.doi.org/10.1108/imefm-08-2017-0227.
Abstract (sommario):
PurposeThis study aims to investigate the transmission of shock between the oil market and the Islamic and conventional stock markets of the Gulf Cooperation Council (GCC) countries during the oil shocks of 2008 and 2014.Design/methodology/approachThis study uses two models. First, the dynamic conditional correlation–generalized autoregressive conditionally heteroskedastic model has been used to capture the fundamental contagion effects between the oil market and the Islamic and conventional stock markets during the tranquil and turmoil-crisis periods of 2008-2014. Second, the filter of Kalman has been used to capture the effects of pure contagion between the oil market and the GCC Islamic and conventional stock markets. The authors analyze the dynamic correlation between forecasting errors of oil returns and stock returns of GCC Islamic and GCC conventional indices.FindingsThe main findings of this investigation are: first, the estimation of the dynamic conditional correlation– generalized autoregressive conditionally heteroskedastic model for oil market and the Islamic and conventional stock markets proves that the Islamic and conventional stock markets and oil market displayed a significant increase in the dynamic correlation during the turmoil period, from mid-2008 and mid-2014. This proves the existence of contagion between the markets studied. Second, the authors analyze the dynamic correlation between forecasting errors of oil returns and stock returns of GCC Islamic and GCC conventional indices. They show a strong increase in the correlation coefficients between the oil market and the conventional GCC stock markets, and between the conventional and Islamic GCC stock markets during the oil crisis of 2014. However, there is no change in regime in the figure of the correlation coefficient between the oil market and the GCC Islamic stock markets during the 2008 financial crisis. This pure contagion is mainly attributed to the herding bias in 2014 oil crisis.Originality/valueThis study contributes to identifying the contribution of herding bias on the volatility transmission between the oil markets, and the GCC Islamic and conventional stock market, especially during two controversial shocks: the 2008 oil-price increase and the 2014 oil drop.
35
Saka, Jimoh O. "OIL PRICE BEHAVIOUR, EXCHANGE RATE MOVEMENT AND THE COVID-19 PANDEMIC IN NIGERIA: ANALYSIS OF THE FIRST THREE QUARTERS OF 2020". Oradea Journal of Business and Economics 6, n. 1 (marzo 2021): 51–61. http://dx.doi.org/10.47535/1991ojbe121.
Abstract (sommario):
This paper evaluates the response of oil price and exchange rate to the corona virus pandemic shock aside from the link between oil price and exchange rate for the first three quarters of 2020 in Nigeria. The theoretical framework emanates from the informal approach and the terms of trade channels. Using VAR cointegration approach, results show existence of long run relationship among the oil price, exchange rate movement and the corona virus indicators based on Max-Eigen and Trace test statistic. End of first quarter oil price, discharge rate and fatality rate negatively relate with current exchange rate. First quarter exchange rate and fatality rate positively relates to oil price behaviour in the third quarter while end of first quarter discharge rate increase fosters oil price decline. First quarter spread rate increase gradually reduces oil demand and the price in the third quarter. All corona virus indicators and exchange rate variable Granger Cause current oil price. Diversification is key to widen export base and increase foreign exchange and stability. Policy measures to sustain the economy in the post COVID-19 and beyond are necessary for long term development.
36
Lykov, V. V., L. Sh Makhmudova e K. Sh Laieva. "STABILIZATION OF THE FIELD WATER-OIL EMULSION BY ELECTROHYDRAULIC IMPACT WITH A 15-FOLD DECREASE IN VISCOSITY". Petroleum Engineering 21, n. 4 (14 settembre 2023): 142–53. http://dx.doi.org/10.17122/ngdelo-2023-4-142-153.
Abstract (sommario):
For the first time, the inverse, no less urgent, task of influencing the field oil-water emulsion (OWE) has been solved — not to destroy the OWE and decompose it into oil and water (a direct task), but to create a stable emulsion, while its viscosity should be significantlyreduced. The electrohydraulic effect was used to influence on OWE — the formation of a shock wave as a result of a pulsed plasma electrohydraulic discharge (PAED) in a liquid (electrohydraulic shock — E-shock). The study was carried out on crude water-oil emulsions of the Taylakovsky field of the Slavneft-Megionneftegas-Gazpromneft. The field OWE contains 80 % water and is located near the point of inversion «oil-water» to «water-oil», as a result of which its viscosity reaches critical values up to 50 Pa∙s, which does not allow it to be transported through pipelines without the use of expensive inhibitors. The effect of E-shock on the OWE led to multiple crushing of large liquid droplets and the formation of a stable, non-delaminating oil-water emulsion for a long time. At the same time, there was a decrease in the viscosity of the OWE by 15-20 times. As a result of the effect of E-shock on the OWE, the type of liquid has changed. From a non-Newtonian thixotropic fluid, the OWE was transformed into a Newtonian fluid with viscosity independent of the measurement time. It is shown that, in contrast to the generally accepted ideas, the viscosity of the OWE decreases, but does not increase with a decrease in the diameter of the droplets in the emulsion. The obtained practical results make it possible to transport OWE through pipelines without the use of expensive inhibitors and reduce the cost of its transportation by 2.5–5 times. We also studied the effect of E-shock on partially dehydrated up to 20% of the water content of the OWE of the Tailakovsky field. As a result of exposure, an emulsion stable for a period of more than 3 months with a decrease in viscosity by 2–3 times was obtained. The type of liquid of the oil-water emulsion has changed after the E-shock exposure — from a non-Newtonian liquid, the OWE becomes a Newtonian liquid.
37
Hori, Y., e T. Kato. "Earthquake-Induced Instability of a Rotor Supported by Oil Film Bearings". Journal of Vibration and Acoustics 112, n. 2 (1 aprile 1990): 160–65. http://dx.doi.org/10.1115/1.2930108.
Abstract (sommario):
The effect of seismic waves on the stability of a Jeffcott rotor supported by oil film bearings is investigated by calculating loci of the centers of the journal and the disk using the Runge-Kutta-Gill method. It will be shown that a linearly stable rotor can become unstable under a strong artificial shock and a real seismic wave, if it is running at speeds above twice the first critical speed, which is close to the natural frequency of the rotor. Thus, it will be pointed out that the linear analysis is insufficient to examine the stability of a rotor-bearing system if the rotor is operated above twice the critical speed and a strong shock such as due to an earthquake is expected.
38
Reshef, Yonatan. "Changing Environments and Management IR Practices. Implications for US Trade Unions". Articles 43, n. 1 (12 aprile 2005): 43–62. http://dx.doi.org/10.7202/050387ar.
Abstract (sommario):
Since the first oil shock of 1973, in the U.S., significant changes have shaken long-standing industrial relations patterns in the union manufacturing sector. This paper concentrates on the challenges posed to manufacturing unions by changing environments and management industrial relations practices.
39
Baker, Thomas H. "First Movers and the Growth of Small Industry in Northeastern Italy". Comparative Studies in Society and History 36, n. 4 (ottobre 1994): 621–48. http://dx.doi.org/10.1017/s001041750001937x.
Abstract (sommario):
In the 1970s, Italy's economy grew faster than all in the industrialized world but Japan's. Its growth rates of up to 5 percent, although lower than in the 1960s, compared favorably to the relatively flat figures from Britain, Germany, and the United States, most strikingly in the two years after the second oil shock of 1979. Following its first “economic miracle” in the 1950s and 1960s, wrote The Economist, Italy's “second, lesser miracle” was how the country continued to thrive in the 1970s despite a “bumbling bureaucracy,” ineffective governments, high inflation and public debt, terrorism, and “the left-wing unions’ greedy, if understandable, reaction to the headlong development of the 1960s.” Italy's rapid growth was all the more impressive in light of the ongoing economic stagnation of the South and a general crisis in the big corporations of Lombardy and Piedmont, which had been dragged down by high oil prices, recession abroad, and indexed wages.
40
Yago, Kazuhiko. "Before the ‘locomotive’ runs: the impact of the 1973–1974 oil shock on Japan and the international financial system". Financial History Review 27, n. 3 (5 novembre 2020): 418–35. http://dx.doi.org/10.1017/s0968565020000177.
Abstract (sommario):
This article offers a Japanese perspective on the debate about the international financial system immediately after the first oil shock of 1973–4. Using archival records from the OECD and Bank of Japan, I analyze the three key policy issues discussed at the meetings of Working Party 3 (WP3) of the OECD: petrodollar recycling, balance-of-payments adjustments, and the management of global growth. Documents show that the Japanese approach to capital controls, exchange rate management, state-led growth orientation and international banking strategies was rather strengthened by the impact of the oil shock. By 1975 the OECD viewed Japan, together with Germany and the United States, as one of the ‘locomotives’ that would trigger a revival of economic growth in the industrialized West.
41
Ray, George F. "British Coal". National Institute Economic Review 130 (novembre 1989): 75–84. http://dx.doi.org/10.1177/002795018913000107.
Abstract (sommario):
In view of the abundant resources of coal in the United Kingdom, it was natural that at the time immediately following the first oil shock in 1973 certain hopes were pinned on coal: that coal usage would recover enabling the country to reduce its high reliance on oil. With the benefit of hindsight it is clear by now that whilst the importance of oil in our energy supplies has indeed been reduced, it was not primarily due to any resurgence of the demand for coal. The production and consumption of coal have continued to decline.
42
Zhu, Zhekai. "Comparison of Hong Kong And Taiwan Economic Development in the Context of the Oil Crisis". Journal of Education, Humanities and Social Sciences 23 (13 dicembre 2023): 579–85. http://dx.doi.org/10.54097/ehss.v23i.13120.
Abstract (sommario):
Hong Kong and Taiwan are part of China and are similar in politics, economy, culture, etc. But in response to the two oil shocks in the 1970s, the two places showed different patterns of economic decline. Taiwan's economy reacted quickly to the oil shock, but the decline was more moderate, while Hong Kong's recession tended to lag global crises, but the reduction was more significant. From the perspective of industrial structure, this paper analyzes the differences in development strategies and industrial structure before the first oil strike and between them through case comparison. This paper finds that Taiwan's economic decline pattern was closely related to its vigorous development of the import substitution industry. In contrast, Hong Kong's industry and trade were less affected, but the rapid growth of finance and real estate at that time created economic instability. The author believes retaining a specific high-end manufacturing industry can stabilize the local economy. The conclusions of this paper can be used for reference in the economic transformation of developing regions.
43
Zong, Z., K. Y. Lam e G. R. Liu. "Probabilistic Risk Prediction of Submarine Pipelines Subjected to Underwater Explosion Shock". Journal of Offshore Mechanics and Arctic Engineering 121, n. 4 (1 novembre 1999): 251–54. http://dx.doi.org/10.1115/1.2829575.
Abstract (sommario):
A simple procedure is proposed in this paper to estimate the global failure probabilities of a submarine oil pipeline subjected to underwater explosion shock wave. The deterministic response of a pipeline subjected to an underwater shock loading is first given by solving a simplified fluid-structure interaction problem. Compared with an FEM/BEM coupling model, the present method gives good results at much lower computational efforts. Then, the Monte Carlo method is used to find the global failure probabilities of the pipeline. Finally, a practical example is given.
44
Ali, Nazar, e Ashok Mittal. "Nexus between Exchange Rate Volatility and Oil Price Fluctuations: Evidence from India". Saudi Journal of Economics and Finance 7, n. 03 (15 marzo 2023): 135–46. http://dx.doi.org/10.36348/sjef.2023.v07i03.003.
Abstract (sommario):
The price of crude oil has fluctuated in India over the past few decades which has drawn significant attention because of it impact on all economic sectors. The present study aims to identify how oil price volatility affects the real exchange rate in India from 1st July 2009 to 2nd January 2020. For short-run and long-run analysis, various econometric methods have been applied, including Granger Causality, ARDL Bound test, FEVD, and IRF. The study divided the entire sample into sub-samples based on Breakpoint analysis and then performed the ARDL Bound testing procedure in each sub-sample. Causality results revealed that most samples exhibited strong unidirectional causality from oil prices to exchange rates. However, the long-run and short-run results from the ARDL model failed to detect any cointegration among the underlying variables for the entire sample. The calculated F-statistics is 4.35, which is less than the lower and upper critical bound values provided by Pesaran, Shin, and Smith (2001). The GIRF has been used to calculate the dynamic marginal effect of a one-standard-deviation shock in oil prices on the current and future values of the Rupee-Dollar exchange rate. The exchange rate fell in the first three samples due to one standard deviation shock in oil prices. However, the contribution of oil prices to the exchange rate is positive in the fourth sample period.
45
Han, Y.-M., M.-S. Seong, S.-B. Choi e N. M. Wereley. "Damping force characteristics of electrorheological shock absorbers with different electrode designs". Proceedings of the Institution of Mechanical Engineers, Part C: Journal of Mechanical Engineering Science 224, n. 2 (1 febbraio 2010): 293–304. http://dx.doi.org/10.1243/09544062jmes1665.
Abstract (sommario):
This article presents the effect of electrode design parameters on the damping force of an electrorheological (ER) shock absorber for passenger vehicles. As a first step, an ER fluid is synthesized by dispersing arabic gum particles into non-conducting oil, and its field-dependent Bingham characteristics are experimentally evaluated. The Bingham model of the ER fluid is then formulated and incorporated with the governing equations of motion of the ER shock absorber. Subsequently, several ER shock absorbers are designed and manufactured with various electrode designs, which have three different electrode gaps, lengths, and materials, respectively. The field-dependent damping force of the manufactured shock absorbers is demonstrated in the time domain and compared with simulation results. In addition, the vibration control performance of a quarter-car suspension system is presented and compared with different electrode gaps and lengths.
46
Hatemi-J, Abdulnasser, e Youssef El-Khatib. "The nexus of trade-weighted dollar rates and the oil prices: an asymmetric approach". Journal of Economic Studies 47, n. 7 (29 aprile 2020): 1579–89. http://dx.doi.org/10.1108/jes-06-2019-0266.
Abstract (sommario):
PurposeThis paper investigates the dynamic relationship between the trade-weighted dollar exchange rates and the oil prices in the world market. Monthly data during 1980–2017 are used for this purpose.Design/methodology/approachThe symmetric and asymmetric generalized impulse response functions are estimated for these important economic indicators.FindingsThe empirical findings show that if the dollar rate increases (i.e. the dollar depreciates), the oil price will increase. The reverse relationship is also supported empirically meaning that an increase in the oil price will results in a significant depreciation of the dollar rate. Based on the asymmetric impulses responses, it can also be claimed that the negative interaction is only significant for the positive changes and not for the negative ones. Thus, the underlying variables are negatively interrelated only for the positive shocks since a negative shock from any variable does not seem to have any significant impact on the other variable. These results have implications for cross hedging of price risk.Originality/valueTo the best knowledge, this is the first attempt to investigate the relationship between the dollar weighted exchange rate and the oil pieces via the asymmetric impulse response functions. Both of these variables and their interactions are very important for investors as well as policy makers worldwide.
47
Covi, Giovanni. "Puzzling Out The First Oil Shock. History, Politics and the Macroeconomy in a Forty-Year Retrospective". HISTORY OF ECONOMIC THOUGHT AND POLICY, n. 2 (novembre 2015): 57–91. http://dx.doi.org/10.3280/spe2015-002004.
48
Hodula, Martin, e Bohdan Vahalík. "Effects of oil shocks on EMU exports: technological level differences". Review of Economic Perspectives 17, n. 4 (20 dicembre 2017): 399–423. http://dx.doi.org/10.1515/revecp-2017-0021.
Abstract (sommario):
Abstract This article provides some new empirical perspectives on the relationship between oil-market fluctuations and technological structure of EMU export. We rely on a time-varying parameter VAR model to capture the reaction of different technological structures of EMU export to various oil-market innovations in the period 2002-2015. Our results can be summarized as follows: (1) increase in crude oil production is likely to reduce oil prices and therefore increases all EMU exports due to lower production and transportation costs; (2) increase in global demand is more likely to be transmitted to goods with higher added value; (3) high-tech exports decrease in the first months after the global demand shock as a result of a delayed investment decision process; (4) increasing oil prices yield only marginal effect on EMU export.
49
Ren, Qichao, Ziming Kou, Juan Wu, Tengyu Li e Waled Yahya. "Development and Parametric Analysis of Vibration System Controlled by Hydraulic Shock Rotary Vibrator". Shock and Vibration 2021 (23 novembre 2021): 1–21. http://dx.doi.org/10.1155/2021/1082963.
Abstract (sommario):
The improvement of the energy utilization rate of a hydraulic vibration-excitation system is critical to the research and development of hydraulic vibration equipment. In this paper, a hydraulic vibration-excitation system controlled by a new type of shock rotary vibrator is proposed. A system model considering the pipeline effect was established for the hydraulic shock phenomenon. In addition, the model was compared with the one that does not consider the pipeline effect. The effectiveness of the proposed model was verified experimentally. Finally, the shock phenomenon during the process of switching the working state of the vibrator and the influence of certain important parameters of the system on the vibration output were investigated based on the proposed model. The results showed that (1) the hydraulic shock phenomenon occurred when the working state of the hydraulic vibrator was switched and (2) the hydraulic shock wave could effectively improve the excitation force of the system. The excitation force increased with an increase in the oil supply pressure, spindle speed, and load. However, it was negatively correlated with the spring stiffness. The amplitude of the vibration waveform output was positively correlated with the oil supply pressure and negatively correlated with the spindle speed and load. The amplitude first increased and then decreased as the stiffness of the vibration spring increased. The only influence of the precompressed length of the spring on the system output was its alteration of the vibration center of the system output vibration.
50
Jreisat, Ammar, e Somar Al-Mohamad. "Bank Efficiency and Oil Price Volatility: A View from the GCC Countries". Emerging Science Journal 6, n. 3 (19 aprile 2022): 519–29. http://dx.doi.org/10.28991/esj-2022-06-03-07.
Abstract (sommario):
The study investigates the banks' efficiency in the Gulf Cooperation Council (GCC) countries' members (GCC). The efficiency of the banking sector is a cornerstone in the financial development of a country. It has also become a prominent label in both economic and financial lexicons due to the lucid importance of the financial intermediation function it provides. The banking industry is considered the backbone of the financial system in oil exporting countries of the GCC region. In general, the advancement and stability of the banking sector are inextricably related to the total economic output as measured by the GDP and to the stability of the financial system in particular. This study aims to evaluate how efficient banking is in the six countries of the GCC bloc, and to assess the effect of the oil price shock in 2014 on the bank’s efficiency in these countries. This study employs the 2-stage Data Envelopment Analysis (DEA) methodology for this aim. This model assigns efficiency scores for GCC banks over a period of time from 2008 to 2016 in the first stage. The second stage of the model regresses the aforementioned efficiency scores against a variety of financial and macroeconomic variables to depict the main determinants of bank efficiency and to assess the banking sector's resilience to global shocks as well as to macroeconomic conditions. The empirical outcomes of this study indicate that the global financial crisis (GFC) in 2008 and the oil price shock in 2014 had a significant negative impact on the efficiency scores of the GCC banks. The findings also show that domestic macroeconomic indicators have a greater impact on bank efficiency than institutional or bank-specific variables.JEL Classifications: E6, E44, Q4, G21 Doi: 10.28991/ESJ-2022-06-03-07 Full Text: PDF