{"id":"https://openalex.org/W7222425694","doi":"https://doi.org/10.46665/kwe.2025.12.26.3.177","title":"Regime-Dependent Pass-Through from Oil, Gas, and Wheat Shocks to the Euro: Structural Breaks, ARDL-ECM, and Variance Overshooting","display_name":"Regime-Dependent Pass-Through from Oil, Gas, and Wheat Shocks to the Euro: Structural Breaks, ARDL-ECM, and Variance Overshooting","publication_year":2025,"publication_date":"2025-12-31","ids":{"openalex":"https://openalex.org/W7222425694","doi":"https://doi.org/10.46665/kwe.2025.12.26.3.177"},"language":"en","primary_location":{"id":"doi:10.46665/kwe.2025.12.26.3.177","doi":"https://doi.org/10.46665/kwe.2025.12.26.3.177","is_oa":false,"landing_page_url":"https://doi.org/10.46665/kwe.2025.12.26.3.177","pdf_url":null,"source":{"id":"https://openalex.org/S2765035765","display_name":"Korea and the World Economy","issn_l":"2234-2346","issn":["2234-2346","2765-6136"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","cwts-core","kci-registered"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Korea and the World Economy","raw_type":"journal-article"},"parent_works":[],"lineage":["https://openalex.org/W7222425694"],"child_works_count":0,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5046278986","display_name":"Chajar Matari Fath Mala","orcid":"https://orcid.org/0000-0001-9199-1740","observed_orcids":["https://orcid.org/0000-0001-9199-1740"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Chajar Matari Fath Mala","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5036770540","display_name":"Sapto Jumono","orcid":"https://orcid.org/0000-0002-8851-0851","observed_orcids":["https://orcid.org/0000-0002-8851-0851"]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Sapto Jumono","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5158874935","display_name":"Sugianto Sugianto","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Sugianto Sugianto","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5118814854","display_name":"Ika Baskara","orcid":null,"observed_orcids":[]},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Ika Baskara","raw_affiliation_strings":[],"raw_orcid":null,"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":1.2824,"has_fulltext":false,"cited_by_count":2,"citation_normalized_percentile":{"value":0.78196798,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":95,"max":96},"biblio":{"volume":"26","issue":"3","first_page":"177","last_page":"214"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.9779999852180481,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11059","display_name":"Market Dynamics and Volatility","score":0.9779999852180481,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.020500000566244125,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10503","display_name":"Global Financial Crisis and Policies","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/euro-exchange-rate","display_name":"euro exchange rate","score":0.9290000200271606},{"id":"https://openalex.org/keywords/oil-price-shocks","display_name":"oil price shocks","score":0.8349999785423279},{"id":"https://openalex.org/keywords/exchange-rate-overshooting","display_name":"exchange rate overshooting","score":0.6819999814033508},{"id":"https://openalex.org/keywords/exchange-rate-volatility","display_name":"exchange rate volatility","score":0.722000002861023},{"id":"https://openalex.org/keywords/structural-breaks","display_name":"structural breaks","score":0.6489999890327454},{"id":"https://openalex.org/keywords/ecb-monetary-policy","display_name":"European Central Bank monetary policy","score":0.6690000295639038},{"id":"https://openalex.org/keywords/cointegration","display_name":"cointegration","score":0.6690000295639038}],"concepts":[{"id":"https://openalex.org/C196083921","wikidata":"https://www.wikidata.org/wiki/Q7915758","display_name":"Variance (accounting)","level":2,"score":0.7433000206947327},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.6388000249862671},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5508000254631042},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.4074000120162964},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.37540000677108765},{"id":"https://openalex.org/C3018076075","wikidata":"https://www.wikidata.org/wiki/Q1826427","display_name":"Variance components","level":2,"score":0.3578000068664551},{"id":"https://openalex.org/C49781872","wikidata":"https://www.wikidata.org/wiki/Q1045555","display_name":"Maximum likelihood","level":2,"score":0.304500013589859},{"id":"https://openalex.org/C119693030","wikidata":"https://www.wikidata.org/wiki/Q2180497","display_name":"Economic model","level":2,"score":0.21799999475479126},{"id":"https://openalex.org/C96250715","wikidata":"https://www.wikidata.org/wiki/Q965330","display_name":"Estimation","level":2,"score":0.20600000023841858},{"id":"https://openalex.org/C99476002","wikidata":"https://www.wikidata.org/wiki/Q42297","display_name":"Analysis of variance","level":2,"score":0.20589999854564667}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.46665/kwe.2025.12.26.3.177","doi":"https://doi.org/10.46665/kwe.2025.12.26.3.177","is_oa":false,"landing_page_url":"https://doi.org/10.46665/kwe.2025.12.26.3.177","pdf_url":null,"source":{"id":"https://openalex.org/S2765035765","display_name":"Korea and the World Economy","issn_l":"2234-2346","issn":["2234-2346","2765-6136"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","cwts-core","kci-registered"],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Korea and the World Economy","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2621126315","https://openalex.org/W1578535501","https://openalex.org/W1743956387","https://openalex.org/W4401418714","https://openalex.org/W1786375279","https://openalex.org/W3123909318","https://openalex.org/W4388242070","https://openalex.org/W3124402272","https://openalex.org/W1523102812","https://openalex.org/W7099596034"],"abstract_inverted_index":{"We":[0,26],"study":[1],"the":[2,34,39,70,110,113,126],"euro\u2019s":[3],"reactions":[4],"to":[5,91,109],"food":[6],"and":[7,47,98],"energy":[8],"price":[9,31],"shocks":[10,44,55],"across":[11,102],"six":[12],"crisis":[13],"regimes":[14],"(from":[15],"2019q3":[16],"through":[17],"2025q2)":[18],"by":[19],"developing":[20],"ARDL-ECM":[21],"models":[22],"for":[23],"each":[24],"crisis.":[25],"also":[27,68],"find":[28],"that":[29],"wheat":[30],"pressure":[32],"on":[33],"euro":[35],"depreciates":[36],"effectively":[37],"in":[38],"long":[40],"run,":[41],"while":[42,82],"oil":[43],"are":[45,51,106],"episodic,":[46],"regime-dependent":[48],"monetary":[49,116,122],"pressures":[50],"regime-dependent.":[52],"Natural":[53],"gas":[54],"generally":[56],"raise":[57],"short-run":[58,130],"exchange":[59,131],"rate":[60,132],"volatility,":[61],"with":[62],"no":[63],"long-run":[64,84,121],"effects.":[65],"The":[66],"paper":[67],"introduces":[69],"new":[71],"concept":[72],"of":[73,112],"variance":[74,81],"overshooting,":[75],"under":[76,134],"which":[77,119],"crises":[78],"disrupt":[79],"conditional":[80],"preserving":[83],"equilibrium":[85,97],"relationships.":[86],"Error-":[87],"correction":[88],"weights":[89],"close":[90],"\u22121":[92],"suggest":[93],"rapid":[94],"convergence":[95],"towards":[96],"thus":[99],"strong":[100],"cointegration":[101],"regimes.":[103],"These":[104],"findings":[105],"a":[107],"testimony":[108],"attractiveness":[111],"two-speed":[114],"ECB":[115],"policy":[117],"framework,":[118],"reinforces":[120],"credibility":[123],"and,":[124],"at":[125],"same":[127],"time,":[128],"buffers":[129],"volatility":[133],"simultaneous":[135],"food-energy":[136],"shocks.":[137]},"counts_by_year":[{"year":2026,"cited_by_count":2}],"updated_date":"2026-11-14T11:04:58.165337","created_date":"2026-10-17T00:00:00"}