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This study analyzed the potential impact ofthe increased oil volatility on the industries and the global economy.Specifically, it separated the oil price fluctuations into positive andnegative components, and modeled the return of industry portfolios with them.Next, the sensitivity of the airline industry to oil price was investigated togauge the effectiveness of their hedging strategies, with the hope that themethodology can be extended to other industries. In addition, this paperexplored the macroeconomic impact of oil price movements by examining thebenchmarks such as GDP and CPI.

KEYWORDS

Crude Oil, Airline, Hedging, Asymmetric Effects, Microeconomics, Macroeconomics

Cite this paper

Xu, P. , Adhikari, U. , Guo, L. , Sathaye, D. , Wang, J. , Yi, D. and Zhu, Y. 2016 Quantifying the Microeconomic and Macroeconomic Impact of the Recent Crude Oil Price Fluctuations. Open Journal of Statistics, 6, 605-615. doi: 10.4236-ojs.2016.64051.





Author: Peng Xu, Utsav Adhikari, Lei Guo, Deepa Sathaye, Jihua Wang, Dongliang Yi, Yizhi Zhu

Source: http://www.scirp.org/



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