EconStor >
Cardiff University >
Cardiff Business School, Cardiff University >
Cardiff Economics Working Papers, Cardiff Business School, Cardiff University >

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10419/65783
  

Full metadata record

DC FieldValueLanguage
dc.contributor.authorGillman, Maxen_US
dc.contributor.authorNakov, Antonen_US
dc.date.accessioned2010-02-24en_US
dc.date.accessioned2012-11-02T14:28:10Z-
dc.date.available2012-11-02T14:28:10Z-
dc.date.issued2008en_US
dc.identifier.urihttp://hdl.handle.net/10419/65783-
dc.description.abstractThe 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.isoengen_US
dc.publisherCardiff University, Cardiff Business School Cardiffen_US
dc.relation.ispartofseriesCardiff Economics Working Papers E2008/15en_US
dc.subject.jelE31en_US
dc.subject.jelE4en_US
dc.subject.ddc330en_US
dc.subject.keywordoil pricesen_US
dc.subject.keywordinflationen_US
dc.subject.keywordcash-in-advanceen_US
dc.subject.keywordmultiple structural breaksen_US
dc.subject.keywordGranger causalityen_US
dc.subject.stwVermögensgegenstanden_US
dc.subject.stwPreisen_US
dc.subject.stwGolden_US
dc.subject.stwErdölen_US
dc.subject.stwZinsen_US
dc.subject.stwVAR-Modellen_US
dc.subject.stwKausalanalyseen_US
dc.titleMonetary effects on oil and gold pricesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn574278710en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Cardiff Economics Working Papers, Cardiff Business School, Cardiff University

Files in This Item:
File Description SizeFormat
574278710.pdf284.92 kBAdobe PDF
No. of Downloads: Counter Stats
Show simple item record
Download bibliographical data as: BibTeX

Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.