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Table 3 The general impact of crude oil shocks on real exchange rates

From: Heterogeneous effects of oil shocks on exchange rates: evidence from a quantile regression approach

  AUS EU JAP CAN MEX NOR UK
Panel A: OLS regression
 Intercept 0.0292
(0.1088)
0.0728
(0.1697)
−0.0027
(0.1243)
0.0463
(0.0654)
0.1063
(0.2197)
0.0362
(0.1033)
0.0061
(0.1089)
 Oil supply shock 0.1037
(0.1155)
−0.3329
(0.2772)
0.0135
(0.1318)
0.0775
(0.0693)
−0.3595
(0.3646)
0.0127
(0.1096)
0.1120
(0.1155)
 Aggregate demand shock −0.3465***
(0.1154)
−0.1703
(0.1429)
0.1886
(0.1315)
−0.2430***
(0.0703)
−0.0114
(0.1959)
−0.1238
(0.1103)
−0.1933*
(0.1152)
 Oil-specific demand shock −0.3228***
(0.1150)
−0.2976*
(0.1512)
0.0477
(0.1313)
−0.2764***
(0.0690)
−0.2959
(0.2035)
−0.4343***
(0.1091)
−0.2187*
(0.1154)
Panel B: Qunatile regression (q = 0.5)
 Intercept −0.1296
(0.1429)
0.2697
(0.2292)
0.1194
(0.1733)
0.0645
(0.0894)
−0.3210*
(0.1885)
0.0172
(0.1471)
0.0266
(0.1524)
 Oil supply shock −0.0467
(0.1540)
−0.5870
(0.3745)
−0.0708
(0.1636)
0.0218
(0.0963)
0.0204
(0.3124)
−0.0541
(0.1355)
0.1323
(0.1704)
 Aggregate demand shock −0.1448
(0.1710)
−0.2315
(0.1930)
0.2911
(0.1790)
−0.0058
(0.1250)
0.1004
(0.2001)
−0.1137
(0.1578)
−0.0056
(0.1893)
 Oil-specific demand shock −0.1190
(0.1567)
−0.4246**
(0.2041)
−0.0891
(0.1930)
−0.2394*
(0.1143)
−0.0451
(0.1745)
−0.4107**
(0.1789)
−0.2696
(0.1783)
  1. The standard errors are reported in parentheses
  2. *, ** and *** denotes coefficients significant at 10, 5 and 1 % level respectively