Why are crude oil prices high when global activity is weak?

被引：45

作者：

Ratti, Ronald A. ^{[1
]}

Vespignani, Joaquin L. ^{[2
]}

机构：

[1] Univ Western Sydney, Sch Business, Sydney, NSW, Australia

[2] Univ Tasmania, Sch Econ & Finance, Hobart, Tas 7001, Australia

来源：

ECONOMICS LETTERS | 2013年 / 121卷 / 01期

关键词：

Oil prices; Global liquidity; Global real M2; Global financial crisis;

D O I：

10.1016/j.econlet.2013.07.002

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

There have been substantial increases in liquidity in recent years and real oil prices have almost returned to the high levels achieved before the global financial crisis. Unanticipated increases in global real M2 led to statistically significant increases in real oil prices. The historical impact of global real M2 on the real price of crude oil is important in the recovery of oil prices over 2009 to 2011. (C) 2013 The Authors. Published by Elsevier B.V. All rights reserved.

引用

页码：133 / 136

页数：4

共 8 条

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