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The empirical role of the exchange rate on the crude-oil price formation

被引：96
作者：
Yousefi, A
Wirjanto, TS
机构：
[1] Univ Waterloo, Dept Econ, Waterloo, ON N2L 3G1, Canada
[2] Univ Western Ontario, Univ London Kings Coll, Dept Econ Business & Math, London, ON N6A 2M3, Canada
[3] Univ Waterloo, Dept Stat & Actuarial Sci, Waterloo, ON N2L 3G1, Canada
来源：
ENERGY ECONOMICS | 2004年 / 26卷 / 05期
关键词：
exchange rate pass through; invoicing currency; crude oil prices; OPEC;
D O I：
10.1016/j.eneco.2004.06.001
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper adopts a novel empirical approach to the crude-oil price formation for the purpose of understanding the price reactions of OPEC member countries to changes in the exchange rate of the US dollar against other major currencies and prices of other members. The results are broadly consistent with the view of the absence of a unified OPEC determined price in the international crude market literature. In addition, the results also highlight a cross-regional dimension of the crude oil market. (C) 2004 Elsevier B.V. All rights reserved.
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页码：783 / 799
页数：17
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