Are Oil Shocks Permanent or Temporary? Panel Data Evidence from Crude Oil Production in 15 Countries

Authors

  • Dmitry Burakov

Abstract

In this paper we explore the unit root properties of crude oil production for 15 sampled countries employing the Lagrange Multiplier (LM) panel unit root test with (and without) one structural break for the period 1990-2017. In case of applying LM univariate test without a structural break, the results are ambiguous and inconclusive with moderate support for stationarity. The results of LM panel unit root test with a structural break are significant and conclusive, stating that for a sampled panel, crude oil production is stationary.Keywords: crude oil, oil shock, unit root, panel analysis, Lagrange multiplierJEL Classifications:  C23, E23, Q43DOI: https://doi.org/10.32479/ijeep.7121

Downloads

Download data is not yet available.

Author Biography

Dmitry Burakov

Department of Monetary Relations and Monetary Policy, PhD in Economics, associate proffesor

Downloads

Published

2019-02-14

How to Cite

Burakov, D. (2019). Are Oil Shocks Permanent or Temporary? Panel Data Evidence from Crude Oil Production in 15 Countries. International Journal of Energy Economics and Policy, 9(2), 295–298. Retrieved from https://mail.econjournals.com/index.php/ijeep/article/view/7121

Issue

Vol. 9 No. 2 (2019)

Section

Articles

License

Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication.