Real Oil Prices since the 1990s

Claudio Morana

Review of Environment, Energy and Economics - Re3, 2012

Abstract: In this study real oil price dynamics have been assessed over few important episodes since the 1990s. The evidence provides support to the demand side view: in this respect, macroeconomic shocks would appear to be the major upward driver of the real oil price over the whole period investigated, with financial shocks sizably contributing as well, and even at a larger extent since mid-2000s. A macro-finance perspective does appear to be important for the understanding of real oil price dynamics since the 1990s.

Keywords: Oil price; Macro-finance Interface; International Business Cycle; Factor Vector Autoregressive Models (search for similar items in EconPapers)
JEL-codes: C22 E32 G12 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:fem:femre3:2012.01-08

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