How do energy price hikes affect exchange rates during the war in Ukraine?

Sokhanvar, Amin

doi:10.1007/s00181-022-02320-7

Cited by 26 publications

(5 citation statements)

References 33 publications

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“…Our findings as shown in Table 7 indicate that the oil price is considered a net transmitter of shocks during the Russian conflict and that exchange rates are more sensitive to oil price shocks in this extreme scenario. This confirms the results of Sokhanvar and Lee (2023). The Russian-led conflict in Ukraine has caused exchange market volatility, driven up oil prices and added uncertainty to a world economy that was already unbalanced.…”

Section: B-dynamic Directional Volatility Spilloversupporting

confidence: 84%

“…For Shanghai futures, the maximum volatility spillover occurs with the Norwegian krone, and the largest negative peak corresponds to 13 June 2022, which coincides with the recent Russian-led conflict in Ukraine. This sudden drop in oil prices increased the exposure of exchange rates to oil price shocks [Sokhanvar and Lee (2023)]. As for WTI, there is a positive peak for all currencies on 20 April 2020, which corresponds to the date of the oil price collapse.…”

Section: Appendixmentioning

confidence: 99%

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Volatility spillover between oil prices and main exchange rates: Evidence from a DCC-GARCH-connectedness approach

Ben Salem,

Zayati,

Nouira

et al. 2024

Resources Policy

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Section: B-dynamic Directional Volatility Spilloversupporting

confidence: 84%

Section: Appendixmentioning

confidence: 99%

Volatility spillover between oil prices and main exchange rates: Evidence from a DCC-GARCH-connectedness approach

Ben Salem,

Zayati,

Nouira

et al. 2024

Resources Policy

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“…In response to the war, the international community, led by the US, the EU, and other countries, imposed sanctions on Russia. These sanctions included export bans and import restrictions, particularly targeting 'dual-use' technologies, such as semiconductors, aviation-related goods and services, and oil and gas extraction [55]. Additionally, there were restrictions on imports of energy raw materials from Russia, with several countries progressively reducing or completely giving up on importing Russian fossil fuels and coal to avoid supporting the conflict.…”

Section: The Impact Of the War In Ukraine In Global Termsmentioning

confidence: 99%

The Impact of the 2020–2022 Crises on EU Countries’ Independence from Energy Imports, Particularly from Russia

Rokicki,

Bórawski,

Szeberényi

2023

Energies

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The main objective of this article is to evaluate the repercussions of the crises resulting from the COVID-19 pandemic and the war in Ukraine on changes to the European Union’s reliance on energy raw material imports, particularly from Russia. Furthermore, several specific objectives are outlined: to ascertain the EU’s energy balance and any alterations therein, to identify changes in the concentration of energy raw material imports among EU countries during the crises, to determine the level and fluctuations in energy raw material import dependence within the EU and individual member states throughout the crises, and lastly, to assess changes in the concentration of energy raw material imports from Russia in EU countries during the crises. The research encompassed all 27 EU member states as of 31 December 2022, and the examination period spanned 2010 to 2022. The information sources include relevant literature on the subject and data sourced from Eurostat. In conducting the analysis and presenting the data, several methodologies are employed, including descriptive, tabular, and graphical techniques. Additionally, quantitative measures such as the Gini structure concentration coefficient and concentration analysis via the Lorenz curve are utilized. In the initial phase, an analysis of changes to the energy balance of the entire EU in the period before and during the COVID-19 pandemic and the war in Ukraine was carried out. Changes to the concentration of energy imports in EU countries during crises are also shown. Secondly, dependence on imports of individual energy resources for the entire EU was identified. Various changes in this relationship during crises are shown. If the dependence of the entire EU on the import of individual groups of energy resources from Russia were identified, changes in individual EU countries in this respect are indicated. Finally, the changes in the concentration of energy imports from Russia in the EU countries during the crises are shown. During the COVID-19 pandemic, the EU experienced a slight reduction in dependence on energy raw material imports. However, this reduction was short-lived and mainly attributed to the decrease in energy demand caused by the pandemic. Conversely, the war in Ukraine had a substantial impact, leading to a notable surge in energy raw material imports as a result of stockpiling efforts and the need to safeguard against further disruptions in the energy market. Notably, the EU’s reliance on energy imports from Russia was already considerable. Following the outbreak of the conflict in Ukraine, imports of oil, petroleum products, and solid fossil fuels experienced significant decline due to imposed sanctions. Nonetheless, restrictions on natural gas imports were comparatively less severe. In 2023, imports of crude oil instead of petroleum products practically ceased, while restrictions in the case of natural gas were not so drastic.

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“…Ha (2023) reveals the interconnections between the crude oil, gold, and stock markets before and after the conflict, thus determining the sources of fluctuations in the oil market. Sokhanvar and Lee (2023) empirically analyze the impact of energy price movements on exchange rates during the conflict. Umar et al (2022) examine the influence of the conflict on the renewable energy, traditional energy, and metal markets, and suggest that the abnormal returns of the renewable energy sector increased markedly following the onset of the Russia-Ukraine conflict.…”

Section: Literature Reviewmentioning

confidence: 99%

International Comparison on the Application of Information Technology in High School Mathematics Textbooks

Zhou

2021

School Mathematics Textbooks in China

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Ultra-dense networks are widely regarded as a promising solution to explosively growing applications of Internet-of-Things (IoT) mobile devices (IMDs). However, complicated and severe interferences need to be tackled properly in such networks. To this end, both orthogonal multiple access (OMA) and non-orthogonal multiple access (NOMA) are utilized at first. Then, in order to attain a goal of green and secure computation offloading, under the proportional allocation of computational resources and the constraints of latency and security cost, joint device association, channel selection, security service assignment, power control and computation offloading are done for minimizing the overall energy consumed by all IMDs. It is noteworthy that multi-step computation offloading is concentrated to balance the network loads and utilize computing resources fully. Since the finally formulated problem is in a nonlinear mixed-integer form, it may be very difficult to find its closed-form solution. To solve it, an improved whale optimization algorithm (IWOA) is designed. As for this algorithm, the convergence, computational complexity and parallel implementation are analyzed in detail. Simulation results show that the designed algorithm may achieve lower energy consumption than other existing algorithms under the constraints of latency and security cost.

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How do energy price hikes affect exchange rates during the war in Ukraine?

Cited by 26 publications

References 33 publications

Volatility spillover between oil prices and main exchange rates: Evidence from a DCC-GARCH-connectedness approach

Volatility spillover between oil prices and main exchange rates: Evidence from a DCC-GARCH-connectedness approach

The Impact of the 2020–2022 Crises on EU Countries’ Independence from Energy Imports, Particularly from Russia

International Comparison on the Application of Information Technology in High School Mathematics Textbooks

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