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Onto Exchange Rate's Short Run Impact on Oil Prices Dynamics: An OPEC Members' perspective

Author

Listed:
  • Sadek Melhem

    (LAMETA)

  • Michel Terraza

    (LAMETA)

Abstract

In this paper, we study the oil price formation for the purpose of understanding price reactions of OPEC member countries to changes in the exchange rate of the US dollar and prices of other members in the short run. The results suggested that there is a partial impact of exchange rates volatility on oil prices dynamics in short runs. Moreover, the study demonstrated that Saudi Arabia behaves as a leader in the OPEC structure market while it behaves differently when linked to other reference markets. Generally, Saudi Arabia behaves more potentially and more moderately than the other OPEC members in responding to change of references markets prices.

Suggested Citation

  • Sadek Melhem & Michel Terraza, 2011. "Onto Exchange Rate's Short Run Impact on Oil Prices Dynamics: An OPEC Members' perspective," Economics Bulletin, AccessEcon, vol. 31(2), pages 1163-1171.
    • Handle: RePEc:ebl:ecbull:eb-10-00699
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    More about this item

    Keywords

    oil prices; exchange rates pass through; OPEC countries;
    All these keywords.

    JEL classification:

    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy

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