The U.S. Dollar Exchange Rate and the Demand for Oil
Selien De Schryder and Gert Peersman
Authors registered in the RePEc Author Service: Gert Peersman ()
The Energy Journal, 2015, vol. Volume 36, issue Number 3
Using recent advances in panel data estimation techniques, we find that an appreciation of the U.S. 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 considerably larger than the impact of a shift in the global crude oil price expressed in U.S. dollar. This finding appears to be the consequence of a stronger pass-through of changes in the U.S. dollar exchange rate to domestic end-user oil products prices relative to changes in the global crude oil price. Furthermore, we demonstrate the relevance of U.S. dollar fluctuations for global oil price dynamics.
JEL-codes: F0 (search for similar items in EconPapers)
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Working Paper: THE US DOLLAR EXCHANGE RATE AND THE DEMAND FOR OIL (2014)
Working Paper: The U.S. Dollar Exchange Rate and the Demand for Oil (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:aen:journl:ej36-3-peersman
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