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

Selien De Schryder and Gert Peersman ()

The Energy Journal, 2015, vol. 36, issue 3, 263-286

Abstract: 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.

Keywords: Oil demand; U.S. dollar exchange rate; Oil price pass-through; Panel data (search for similar items in EconPapers)
Date: 2015
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://journals.sagepub.com/doi/10.5547/01956574.36.3.ssch (text/html)

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)
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)
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:sae:enejou:v:36:y:2015:i:3:p:263-286

DOI: 10.5547/01956574.36.3.ssch

Access Statistics for this article

More articles in The Energy Journal
Bibliographic data for series maintained by SAGE Publications ().