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

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Ratti, R and Vespignani, JL (2013) Why crude oil prices are high when global activity is weak? Discussion Paper. University of Tasmania. (Submitted)

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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 lead to statistically significant increases in real oil prices. The
cumulative impact of global real M2 on the real price of crude oil is important in the recovery of oil price during 2009 and 2010.

Item Type: Report (Discussion Paper)
Keywords: repec, Oil Price, Global Liquidity
Publisher: University of Tasmania
Date Deposited: 19 Mar 2013 22:44
Last Modified: 18 Nov 2014 04:50
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