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

Ronald A. Ratti; Joaquin L. Vespignani

doi:10.1016/j.econlet.2013.07.002

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

Ronald A. Ratti, Joaquin L. Vespignani

Research output: Contribution to journal › Article › peer-review

Abstract

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.

Original language	English
Pages (from-to)	133-136
Number of pages	4
Journal	Economics Letters
Volume	121
Issue number	1
DOIs	https://doi.org/10.1016/j.econlet.2013.07.002
Publication status	Published - 2013

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

Access to Document

10.1016/j.econlet.2013.07.002

Cite this

@article{cc6eb988f02a43c4a765af9394b02e77,

title = "Why are crude oil prices high when global activity is weak?",

abstract = "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.",

author = "Ratti, {Ronald A.} and Vespignani, {Joaquin L.}",

year = "2013",

doi = "10.1016/j.econlet.2013.07.002",

language = "English",

volume = "121",

pages = "133--136",

journal = "Economics Letters",

issn = "0165-1765",