Related Experiment Video
Updated: Sep 23, 2025

Measurement of the Rheology of Crude Oil in Equilibrium with CO2 at Reservoir Conditions
Published on: June 6, 2017
Shocks and volatility transmission between oil price and Nigeria's exchange rate
Atabani Adi Agya1, Paabu Adda Samuel1, Kingsley Wobilor Amadi1
1Department of Economics, Faculty of Humanities, Management and Social Sciences, Federal University, PMB 1020, Wukari, Nigeria.
Abstract:
The study examined shock and volatility transmission between oil price and exchange rate markets using daily data covering the period from 23rd October 2009 to 30th November 2020. The contributions of the paper include (i) implementation of VAR-AGARCH model to capture spillover effect of shock and volatility; (ii) examining the nature of shock impact in oil price and exchange rate market; (iii) adopting of two measured of oil price (WTI and Brent); (iv) employing two measures of the exchange rate (USD/Naira and effective/Naira). The study revealed that past own shocks and volatilities significantly contribute to current volatilities in exchange rate and oil price markets. Also, there is bidirectional shock and volatility spillover between the exchange rate (USD/Naira and effective/Naira) and WTI oil price markets. There were bidirectional shock and volatility spillover between USD/Naira and Brent oil price and unidirectional shock and volatility from Brent oil price to effective exchange rate market. We found asymmetric shocks impacting exchange rates and WTI oil price while symmetric shock was observed in Brent oil price. Including innovation in oil price is essential in exchange rate policy formulation and modelling exchange rate shock and volatility.
Related Concept Videos
Shock Waves
When the source's speed approaches the speed of sound, constructive interference between successive wavefronts emitted by the source occurs immediately behind it. Initially, scientists believed that this constructive interference would result in such high...
Blood Pressure Imbalances and Circulatory Shock
Blood Pressure: Hypertension and Hypotension
Normal blood pressure is 120/80 mm Hg. Elevated blood pressure is 120-129/under 80 mm Hg. Hypertension, warranting treatment at 130/80 mm Hg, is often asymptomatic and can lead to severe cardiovascular events, aneurysms, peripheral arterial disease, chronic renal disease, or cardiac...
Residual Plots
When the residual values are plotted against the variable x, it is called a residual...
Oscillations about an Equilibrium Position
Relative Stabilities of Alkenes
Combustion Energy: A Measure of Stability in Alkanes and Cycloalkanes
Alkanes undergo combustion in the presence of excess oxygen and high-temperature conditions to give carbon dioxide and water. A combustion reaction is the energy source in natural gas, liquified...

