Abstract

http://ssrn.com/abstract=2225635
 


 



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


Selien De Schryder


Ghent University-Universiteit Gent - Department of Financial Economics

Gert Peersman


Ghent University-Universiteit Gent - Department of Financial Economics

February 27, 2013

CESifo Working Paper Series No. 4126

Abstract:     
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.

Number of Pages in PDF File: 34

Keywords: oil demand, US dollar exchange rate, panel data, nonlinearities

JEL Classification: C330, F310, Q410

working papers series


Download This Paper

Date posted: February 28, 2013  

Suggested Citation

De Schryder, Selien and Peersman, Gert, The U.S. Dollar Exchange Rate and the Demand for Oil (February 27, 2013). CESifo Working Paper Series No. 4126. Available at SSRN: http://ssrn.com/abstract=2225635

Contact Information

Selien De Schryder
Ghent University-Universiteit Gent - Department of Financial Economics ( email )
Ghent, 9000
Belgium
Gert Peersman (Contact Author)
Ghent University-Universiteit Gent - Department of Financial Economics ( email )
W. Wilsonplein 5D
Ghent, 9000
Belgium
+3292643514 (Phone)
HOME PAGE: www.feb.ugent.be/fineco/gert.html
Feedback to SSRN


Paper statistics
Abstract Views: 457
Downloads: 104
Download Rank: 152,165

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo1 in 0.406 seconds