The U.S. Dollar Exchange Rate and the Demand for Oil

Selien De Schryder and Gert Peersman ()

No 4126, CESifo Working Paper Series from CESifo

Abstract: Using recent advances in panel data estimation techniques, we find that an appreciation of the US dollar exchange rate leads to a significant decline in oil demand for a sample of 65 oil-importing countries. The estimated effect turns out to be much larger than the impact of a shift in the global crude oil price expressed in US dollar. Furthermore, the effect of the US dollar on oil demand tends to be declining over time and, for a subsample of OECD countries, stronger for an appreciation compared to a depreciation of the US dollar.

Keywords: oil demand; US dollar exchange rate; panel data; nonlinearities (search for similar items in EconPapers)
JEL-codes: C33 F31 Q41 (search for similar items in EconPapers)
Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (10)

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Related works:
Journal Article: The U.S. Dollar Exchange Rate and the Demand for Oil (2016)
Journal Article: The U.S. Dollar Exchange Rate and the Demand for Oil (2015)
Journal Article: The U.S. Dollar Exchange Rate and the Demand for Oil (2015)
Working Paper: THE US DOLLAR EXCHANGE RATE AND THE DEMAND FOR OIL (2014)
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