Oil Prices and the Terms of Trade

By David K. Backus, Mario J. Crucini. 2000

549 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/d4b89e50f1a426bdf60e9de7caf0bf886bde0f22

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Citations in the corpus

Quantitative Effects of the Shale Oil Revolution (2015, unknown): “Recent examples include Backus and Crucini (2000), Blanchard and Gali (2010), Bodenstein et al. (2011, 2012), Bodenstein and Guerrieri (2011), DeMiguel and Manzano (2006), Leduc and Sill (2007), and Nakov and Pescatori (2010a,b).”
Commodity Currencies and Empirical Exchange Rate Puzzles (2002, background): “3 Oil prices certainly have the volatility and there is some evidence that they impact the terms of trade (Backus and Crucini, 2000), but adding these variables to standard monetary equations does not seem to do the trick.”
Oil price shocks and trade imbalances (2013, methodology): “Instead of using the “complete markets” framework as in Backus and Crucini (2000), the study introduced ⁎ Corresponding author.”
Dynamic correlation between stock market and oil prices: The case of oil-importing and oil-exporting countries (2011, background): “Oil price increase will lead to higher cost of productions, as oil is one of the most important production factors (Arouri and Nguyen, 2010; Backus and Crucini, 2000; Kim and Loungani, 1992).”
Openness, Government Size and the Terms of Trade (2009, background): “…of trade changes due to a country s relative growth performance, we net out the e¤ect of changes in the fuel-prices from the growth rate of terms of trade.50 Following Backus and Crucini (2000), non-fuel terms of trade (ToTnf ) can be expressed as: ToTnfi = P xi Pmi Sxnfi Smnfi qxi qmi ; where P xi”
Oil and the Macroeconomy: A Quantitative Structural Analysis (2012, unknown): “All remaining errors are ours.”
Oil Shocks and External Balances (2009, background): “(2008), who in turn build on the open economy model of Backus and Crucini (1998). In their two-country model, each country produces a distinct tradable good, which is used as an input in the production of consumption and investment goods both at home and abroad.”
International Business Cycles: World, Region, and Country-Specific Factors (2003, unknown): “( See Chib and Greenberg, 1996, Geweke, 1996, 1997.)”
Oil Price Factors: Forecasting on the Base of Modified Auto-regressive Integrated Moving Average Model (2019, background): “Backus and Crucini (2000), Farzanegan and Markwardt (2009) proposed that consequently, oil price volatility and another oil crisis have been growing.”
Predictability of Currency Carry Trades and Asset Pricing Implications (2013, unknown): “It has been shown that countries often encounter exogenous terms-of-trade shocks due to oil price changes, possibly affecting their exchange rates (Backus and Crucini, 2000; Kilian, 2009; Ferraro, Rogoff, and Rossi, 2011).”
Oil Shocks and External Adjustment (2007, methodology): “Our modeling framework builds on the open economy DSGE model of Backus and Crucini (1998). In our model, each country produces a distinct tradable output good which is used as an input into the production of consumption and investment goods both at home and abroad. Oil serves as an input into the pr”