Abstract COVID-19 pandemic infests every sphere of life, including the economy, thereby accounting for tremendous economic calamities on a global scale. Some such are still evolving. This paper examines impact with particular emphasis Nigeria within early days pandemic. The article established its theoretical foundation through marriage both AK-type endogenous growth theory and model an assumpt...

This paper explores similarities and differences between the run-up of oil prices in 200708 and earlier oil price shocks, looking at what caused the price increase and what effects it had on the economy. Whereas historical oil price shocks were primarily caused by physical disruptions of supply, the price run-up of 2007-08 was caused by strong demand confronting stagnating world production. Alt...

This study investigated the impact of decomposed oil price shocks on household consumption in Zambia from 1985-2019. A structural Vector Autoregressive Model (SVAR) was used to measure contemporaneous consumption, and complemented by Impulse Response Functions (IRFs), Granger Causality Tests Forecast Error Variance Decompositions (FEVD). The existence long-run relationships determined cointegra...

We quantify the effect of a significant technological innovation, shale oil development, on asset prices. Using stock price changes on major news announcement days allows us to link aggregate stock price changes to shale development activity as well as other oil supply shocks. We exploit cross-sectional variation in industry portfolio returns on announcement days to construct a shale mimicking ...

This paper investigates the value of international cooperation during an oil supply disruption. The International Energy Agency provides the aegis for energy cooperation among the industrialized countries, but only an enormous disruption would ‘trigger’ the Agency’s emergency mechanism. Smaller ( ‘sub-trigger’) disruptions have occurred three times in the past decade, and twice, in I9 73-74, an...

Using survey data on expectations, we examine whether the post-war data are consistent with theories of a self-fulfilling inflation episode during the 1970s. Among commonly cited factors, oil and fiscal shocks do not appear to have triggered an increase in expected inflation that was subsequently validated by monetary policy. However, the evidence suggests that, prior to 1979, the Fed accommoda...

This paper studies transmission of international energy price shocks to various sectors in the Australian stock market. We take the multivariate generalized autoregressive conditional heteroscedasticity (MGARCH) approach to modeling volatility and gather evidence that energy price shocks transmit to the price indices of various sectors classified by the global industry classification standard (...