Please Note:

The Open Access Repository will be moving to a new authentication system on the 1st of November.

From this date onwards, account holders will be required to login using their University of Tasmania credentials.
If your current repository username differs from your University username, please email E.Prints@utas.edu.au so we can update these details on your behalf.

Due to the change, there will be a short outage of the repository from 9am on the morning of the 1st of November

Open Access Repository

Crude Oil Prices: China’s Influence Over 1996-2011

Downloads

Downloads per month over past year

Ratti, R and Vespignani, JL (2012) Crude Oil Prices: China’s Influence Over 1996-2011. Discussion Paper. University of Tasmania. (Unpublished)

This is the latest version of this item.

[img]
Preview
PDF
2012-10__DP_Rat...pdf | Download (703kB)
Available under University of Tasmania Standard License.

Abstract

Industrial production and liquidity in China and liquidity in other major countries are introduced into the Kilian (2009) model identifying the supply and demand side factors driving real oil price changes. It is recognized that China’s real liquidity may proxy for real income increase in China. Unanticipated increases in China’s liquidity cause large significant increases in real oil prices that
persist. Positive innovations to G3 liquidity raise real oil price by much smaller amounts before eroding. Following a sharp fall late in 2008 real oil price rose strongly during 2009-2010. This rise is associated with shocks from China’s liquidity during 2009 and recovered global demand for industrial commodities during 2010. Global demand for industrial commodities reacts positively to China’s industrial production and liquidity.

Item Type: Report (Discussion Paper)
Keywords: Oil Price, China’s Global Influence, Oil Price and Liquidity, repec
Publisher: University of Tasmania
Additional Information:

Discussion Paper 2012-05 - Copyright 2012 University of Tasmania

Date Deposited: 21 Jan 2013 04:27
Last Modified: 18 Nov 2014 04:46
Item Statistics: View statistics for this item

Available Versions of this Item

Actions (login required)

Item Control Page Item Control Page
TOP