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Why are crude oil prices high when global activity is weak?


Ratti, R and Vespignani, J, Why are crude oil prices high when global activity is weak?, Economics Letters, 121, (1) pp. 133-136. ISSN 0165-1765 (2013) [Refereed Article]


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Creative Commons License 2013

DOI: doi:10.1016/j.econlet.2013.07.002


There have been substantial increases in liquidity in recent years and real oil prices have almost returned to the high levels achieved before the global financial crisis. Unanticipated increases in global real M2 led to statistically significant increases in real oil prices. The historical impact of global real M2 on the real price of crude oil is importqnt in the recovery of oil prices over 2009 to 2011.

Item Details

Item Type:Refereed Article
Keywords:OIl prices; Global liquidity; Global real M2; Global financial crisis
Research Division:Economics
Research Group:Applied economics
Research Field:Financial economics
Objective Division:Economic Framework
Objective Group:Macroeconomics
Objective Field:Monetary policy
UTAS Author:Vespignani, J (Associate Professor Joaquin Vespignani)
ID Code:86322
Year Published:2013
Web of Science® Times Cited:40
Deposited By:Economics and Finance
Deposited On:2013-09-05
Last Modified:2017-12-06
Downloads:167 View Download Statistics

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