1
Assistant Professor of Economics at Shahid Chamran University of Ahvaz, Iran
2
Professor of Economics at Shahid Chamran University of Ahvaz, Iran,
3
Graduate of Economics at Shahid Chamran University of Ahvaz, Iran
Abstract
Oil prices and export revenues have an important role in exporting countries. A fluctuation in oil prices leads to imbalances and economic crisis in these countries. In this study, we analyze the effects of oil price fluctuations in the energy consumption of OPEC countries for the period 1998 to 2013. For this purpose, the panel data and generalized method of moments (GMM) is used. In this study, using EGARCH model, estimated the effect of fluctuations in oil revenues on three sub-energy, including oil, gas and electricity consumption. Then, analysis is continued on the symmetry or asymmetry effects of oil revenue by GJR model. Results show that fluctuations had different effects in this country. As in oil revenue fluctuations model on crude oil consumption, this fluctuations effects, except, the Algeria, Iran, Libya, United Arab Emirates and Venezuela in other countries were symmetrical. The other result shows that in country with asymmetric fluctuations, the negative oil price shock has larger impact. JEL Classification: C22, Q10.
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Anvari,E. , Arman,S. A. and Rezaee,P. (2017). Oil Income Fluctuations and Symmetry Effects on Energy Consumption in OPEC Member Countries. The Journal of Economic Studies and Policies, 4(1), 81-106.
MLA
Anvari,E. , , Arman,S. A. , and Rezaee,P. . "Oil Income Fluctuations and Symmetry Effects on Energy Consumption in OPEC Member Countries", The Journal of Economic Studies and Policies, 4, 1, 2017, 81-106.
HARVARD
Anvari E., Arman S. A., Rezaee P. (2017). 'Oil Income Fluctuations and Symmetry Effects on Energy Consumption in OPEC Member Countries', The Journal of Economic Studies and Policies, 4(1), pp. 81-106.
CHICAGO
E. Anvari, S. A. Arman and P. Rezaee, "Oil Income Fluctuations and Symmetry Effects on Energy Consumption in OPEC Member Countries," The Journal of Economic Studies and Policies, 4 1 (2017): 81-106,
VANCOUVER
Anvari E., Arman S. A., Rezaee P. Oil Income Fluctuations and Symmetry Effects on Energy Consumption in OPEC Member Countries. The Journal of Economic Studies and Policies, 2017; 4(1): 81-106.
