REAL OUTPUT AND OIL PRICE UNCERTAINTY IN AN OIL PRODUCING COUNTRY

Bernard Njindan Iyke ()
Additional contact information
Bernard Njindan Iyke: Deakin University

Bulletin of Monetary Economics and Banking, 2019, vol. 22, issue 2, 163-176

Abstract: We assess the effects of oil price uncertainty on Nigeria’s real output from the first quarter of 1980 to the first quarter of 2019. We achieve this objective by decomposing oil price uncertainty into positive and negative uncertainties. We then quantify the responses of output to these uncertainties. Using the conditional variance of real returns in composite refiners’ acquisition cost of crude oil as our measure of oil price uncertainty, we find that positive uncertainty leads to a decline in output, whereas negative uncertainty leads to a rise in output. The response of output to these uncertainties is asymmetric.

Keywords: Oil price uncertainty; Real output; Oil-producing country; Nigeria (search for similar items in EconPapers)
JEL-codes: E23 E32 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://bulletin.bmeb-bi.org/cgi/viewcontent.cgi?article=1087&context=bmeb (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:22:y:2019:i:2b:p:163-176

DOI: 10.21098/bemp.v22i2.1095

Access Statistics for this article

Bulletin of Monetary Economics and Banking is currently edited by Paresh Narayan

More articles in Bulletin of Monetary Economics and Banking from Bank Indonesia Contact information at EDIRC.
Bibliographic data for series maintained by Lutzardo Tobing ( this e-mail address is bad, please contact ) and Jimmy Kathon ().