Internal medicine

Intuition

Vector autoregression

Archaeology

Stock (firearms)

Disease

Coronavirus disease 2019 (COVID-19)

Infectious disease (medical specialty)

Biology

Pandemic

Financial economics

Epistemology

Outbreak

Engineering

Philosophy

Econometrics

Paleontology

Virology

Economics

Geography

2019-20 coronavirus outbreak

Stock market

Horse

Monetary economics

Petroleum engineering

Crude oil

Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2)

Medicine

Energy RESEARCH LETTERS

This research explores the interaction among the COVID-19 pandemic, crude oil market and stock market in the U.S. by utilizing a time-varying parameter vector autoregression (TVP-VAR) model. Our results indicate that there is a negative connection between crude oil returns and stock returns. Interestingly, contrary to our intuition, we find that the COVID-19 pandemic cannot exert a negative effect but has a statistically significantly positive effect on crude oil returns and stock returns.

Impact of the COVID-19 Pandemic on the Crude Oil and Stock Markets in the US: A Time-Varying Analysis