Assessing the extent and persistence of major crisis events in | ResearchBunny

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Abstract

This study investigates the extent and persistence of major crisis events in the crude oil market and economy using a Proxy-SVAR model on 50 major crisis events across four categories. Results show substantial impacts on crude oil production, prices, and inflation in China and the US, with geopolitical conflicts severely impacting the S&P500 and industrial production. Financial crises had the most prolonged impact (four years), while COVID-19's impact on the oil market lasted over three years. Four policy measures are suggested to enhance economic resilience.

Publisher

HUMANITIES AND SOCIAL SCIENCES COMMUNICATIONS

Published On

Jul 12, 2024

Authors

Qi Zhang, Yi Hu, Jianbin Jiao, Shouyang Wang

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