The COVID-19-triggered collapse in oil prices in March and April 2020 was the seventh, and by far the most severe, in a series of such collapses since 1970. This paper, first, compares this most recent collapse and its drivers with previous ones in an event study. It finds that it was associated with an exceptionally severe plunge in oil demand. Second, in a local projections model, this paper estimates the implications of demand- and supply-driven...
Vea más
INFORMACIÓN
-
2020/09/21
-
Documento de trabajo sobre investigaciones relativas a políticas
-
WPS9403
-
1
-
1
-
2020/09/21
-
Disclosed
-
Implications of Cheap Oil for Emerging Markets
-
oil price collapse