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Researchers at Texas A&M University Release New Data on Energy Economics (Interdependence of oil prices and stock market indices: A copula...

September 5, 2014



Researchers at Texas A&M University Release New Data on Energy Economics (Interdependence of oil prices and stock market indices: A copula approach)

By a News Reporter-Staff News Editor at Energy Weekly News -- Current study results on Energy Economics have been published. According to news originating from College Station, Texas, by VerticalNews correspondents, research stated, "In this paper we study the relationship between the oil price and stock market index of various countries between 1982 and 2007. We exclude oil and gas stock companies from the stock indices to remove the obvious direct linkage."

Our news journalists obtained a quote from the research from Texas A&M University, "Oil price series are converted into local currency to account for possible exchange rate effects. The method of copula is used to model the general dependence between stock returns and oil price returns. Our findings suggest a weak dependence between oil prices and stock indices for most cases, which are consistent with the results from previous studies. Exceptions are for the stock index returns of large oil consuming and producing countries (United States and Canada), which are shown to have a relatively strong dependence with the oil price series."

According to the news editors, the research concluded: "The introduction of Euro in 1999 altered considerably dependence between oil prices and stock returns."

For more information on this research see: Interdependence of oil prices and stock market indices: A copula approach. Energy Economics, 2014;44():331-339. Energy Economics can be contacted at: Elsevier Science Bv, PO Box 211, 1000 Ae Amsterdam, Netherlands. (Elsevier - www.elsevier.com; Energy Economics - www.elsevier.com/wps/product/cws_home/30413)

The news correspondents report that additional information may be obtained from K. Sukcharoen, Texas A&M University, Dept. of Agr Econ, College Stn, TX 77840, United States. Additional authors for this research include T. Zohrabyan, D. Leatham and X.M. Wu.

Keywords for this news article include: Texas, Oil & Gas, Oil Price, United States, College Station, Energy Economics, Finance and Investment, Investment and Finance, North and Central America

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2014, NewsRx LLC


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Source: Energy Weekly News


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