3 Works

Fifteenth-Century Arabic Historiography: Introducing a New Research Agenda for Authors, Texts and Contexts

Jo Van Steenbergen, Mustafa Banister, Ben Othmen Rihab, Kenneth A. Goudie, Mohamed Maslouh & Zacharie Mochtari de Pierrepont

Time-Varying Effects of Oil Supply Shocks on the U.S. Economy

Baumeister Christiane & Gert Peersman
We use vector autoregressions with drifting coefficients and stochastic volatility to investigate how the dynamic effects of oil supply shocks on the U.S. economy have changed over time. We find a substantial decline in the short-run price elasticity of oil demand since the mid-eighties. This finding helps explain why an oil production shortfall of the same magnitude is associated with a stronger response of oil prices and more severe macroeconomic consequences over time, while an...

The Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market

Christiane Baumeister & Gert Peersman
There has been a systematic increase in the volatility of the real price of crude oil since 1986, followed by a decline in the volatility of oil production since the early 1990s. We explore reasons for this evolution. We show that a likely explanation of this empirical fact is that both the short-run price elasticities of oil demand and of oil supply have declined considerably since the second half of the 1980s. This implies that...

Registration Year

  • 2021

Resource Types

  • Text


  • Ghent University
  • Bank of Canada