This paper estimates a Structural Dynamic Factor Model on a panel of 102 US quarterly series. We model economic comovements by means of 5 underlying structural shocks (oil price, productivity, aggregate demand, monetary policy, and housing demand). The results of the benchmark model (impulse responses and variance decompositions) are in line with those predicted by economic theory and usually e...

We consider a one-dimensional problem modeling two-phase flow in heterogeneous porous media made of two homogeneous subdomains, with discontinuous capillarity at the interface between them. We suppose that the capillary forces vanish inside the domains, but not on the interface. Under the assumption that the gravity forces and the capillary forces are oriented in opposite directions, we show th...

Copyright © 2015 Jung-Fa Tsai et al. This is an open access article distributed under the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited. This special issue continues to raise the aim of The Scientific World Journal in the operations research subject area through its cutting-edge pr...

a r t i c l e i n f o JEL classification: C23 E44 Q43 Keywords: Crude oil shocks Stock market prices Panel data Asymmetric adjustment Granger causality This paper proposes a panel threshold cointegration approach to investigate the relationship between crude oil shocks and stock markets for the OECD and non-OECD panel from January 1995 to December 2009. Nonlinear cointegration is confirmed for ...

This article discusses the effect of oil shock on some OECD oil-importing countries such as Canada, France, Italy, China, and United States OPEC oil-exporting Algeria, Iran, Kuwait, Saudi Arabia, Venezuela. The model is estimated for years 1976-2021. five annual variables are used each country. within include real prices, GDP growth, inflation, wages, effective exchange rates. Real main variabl...

The paper observes the dependence of main macroeconomic indicators in developing countries from change world prices for crude oil. We analyzed a system simultaneous equations, which makes it possible to verify some these hypotheses, and developed model forecast impact oil on budget revenues. practical significance this work lies structuring existing knowledge crisis. results can be considered c...