Oil Price and the Dollar
The aim of this paper is to test whether a stable long-term relationship exists between oil prices and the US effective exchange rate, expressed in real terms. To this end, weproceed to a cointegration and causality study between the two variables. Our results indicate that causality runs from oil prices to the exchange rate and that the relationship between the two variables is transmitted through the US net foreign asset position.
|Date of creation:||2008|
|Publication status:||Published in Energy Studies Review, 2008, 15 (2)|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00353404|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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