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Cardiff Business School, Cardiff University >
Cardiff Economics Working Papers >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/65783
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Gillman, Max | | en_US |
| dc.contributor.author | | Nakov, Anton | | en_US |
| dc.date.accessioned | | 2010-02-24 | | en_US |
| dc.date.accessioned | | 2012-11-02T14:28:10Z | | - |
| dc.date.available | | 2012-11-02T14:28:10Z | | - |
| dc.date.issued | | 2008 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/65783 | | - |
| dc.description.abstract | | The paper presents a theory of nominal asset prices for competitively owned oil. Focusing on monetary effects, with flexible oil prices the US dollar oil price should follow the aggregate US price level. But with rigid nominal oil prices, the nominal oil price jumps proportionally to nominal interest rate increases. We find evidence for structural breaks in the nominal oil price that are used to illustrate the theory of oil price jumps. The evidence also indicates strong Granger causality of the oil price by US inflation as is consistent with the theory. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Cardiff Univ, Cardiff Business School, Economics Section Cardiff | | en_US |
| dc.relation.ispartofseries | | Cardiff Economics Working Papers E2008/15 | | en_US |
| dc.subject.jel | | E31 | | en_US |
| dc.subject.jel | | E4 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | oil prices | | en_US |
| dc.subject.keyword | | inflation | | en_US |
| dc.subject.keyword | | cash-in-advance | | en_US |
| dc.subject.keyword | | multiple structural breaks | | en_US |
| dc.subject.keyword | | Granger causality | | en_US |
| dc.subject.stw | | Vermögensgegenstand | | en_US |
| dc.subject.stw | | Preis | | en_US |
| dc.subject.stw | | Gold | | en_US |
| dc.subject.stw | | Erdöl | | en_US |
| dc.subject.stw | | Zins | | en_US |
| dc.subject.stw | | VAR-Modell | | en_US |
| dc.subject.stw | | Kausalanalyse | | en_US |
| dc.title | | Monetary effects on oil and gold prices | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 574278710 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | Cardiff Economics Working Papers
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