Quantifying the Microeconomic and Macroeconomic Impact of the Recent Crude Oil Price Fluctuations  

作　　者：Peng Xu Utsav Adhikari Lei Guo Deepa Sathaye Jihua Wang Dongliang Yi Yizhi Zhu Peng Xu;Utsav Adhikari;Lei Guo;Deepa Sathaye;Jihua Wang;Dongliang Yi;Yizhi Zhu(Department of Industrial and Enterprise Systems Engineering, University of Illinois, Urbana, IL, USA)

机构地区：[1]Department of Industrial and Enterprise Systems Engineering, University of Illinois, Urbana, IL, USA

出　　处：《Open Journal of Statistics》2016年第4期605-615,共11页统计学期刊（英文）

摘　　要：This study analyzed the potential impact of the increased oil volatility on the industries and the global economy. Specifically, it separated the oil price fluctuations into positive and negative components, and modeled the return of industry portfolios with them. Next, the sensitivity of the airline industry to oil price was investigated to gauge the effectiveness of their hedging strategies, with the hope that the methodology can be extended to other industries. In addition, this paper explored the macroeconomic impact of oil price movements by examining the benchmarks such as GDP and CPI.This study analyzed the potential impact of the increased oil volatility on the industries and the global economy. Specifically, it separated the oil price fluctuations into positive and negative components, and modeled the return of industry portfolios with them. Next, the sensitivity of the airline industry to oil price was investigated to gauge the effectiveness of their hedging strategies, with the hope that the methodology can be extended to other industries. In addition, this paper explored the macroeconomic impact of oil price movements by examining the benchmarks such as GDP and CPI.

关 键 词：Crude Oil AIRLINE HEDGING Asymmetric Effects MICROECONOMICS MACROECONOMICS 

分 类 号：F42[经济管理—产业经济]