Arbeitspapier
The U.S. dollar exchange rate and the demand for oil
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.
- Language
-
Englisch
- Bibliographic citation
-
Series: CESifo Working Paper ; No. 4126
- Classification
-
Wirtschaft
Multiple or Simultaneous Equation Models: Panel Data Models; Spatio-temporal Models
Foreign Exchange
Energy: Demand and Supply; Prices
- Subject
-
oil demand
US dollar exchange rate
panel data
nonlinearities
- Event
-
Geistige Schöpfung
- (who)
-
De Schryder, Selien
Peersman, Gert
- Event
-
Veröffentlichung
- (who)
-
Center for Economic Studies and ifo Institute (CESifo)
- (where)
-
Munich
- (when)
-
2013
- Handle
- Last update
- 10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- De Schryder, Selien
- Peersman, Gert
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2013
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