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The Macroeconomic Effects of Public Investment

The Macroeconomic Effects of Public Investment »

Source: The Macroeconomic Effects of Public Investment : Evidence from Advanced Economies

Volume/Issue: 2015/95

Series: IMF Working Papers

Author(s): Abdul Abiad , Davide Furceri , and Petia Topalova

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2015

ISBN: 9781475578874

Keywords: Growth, Debt, investment, private investment, capital, Demand and Supply, Energy and the Macroeconomy, Government Policy, Debt.,

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample o...

Measuring Energy Security

Measuring Energy Security »

Source: Measuring Energy Security : Trends in the Diversification of Oil and Natural Gas Supplies

Volume/Issue: 2011/39

Series: IMF Working Papers

Author(s): Prakash Loungani , Frederick Joutz , and Gail Cohen

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 February 2011

ISBN: 9781455217878

Keywords: Energy Security, Energy Independence, Diversification, OECD Energy Use, gas, natural gas, oil and gas, natural gas supplies, gas supplies, Energy: Demand and Supply

We present evidence on one facet of energy security in OECD economies - the extent of diversification in sources of oil and natural gas supplies. Viewed from the perspective of the energy-importing countries as a w...

Caribbean Energy

Caribbean Energy »

Source: Caribbean Energy : Macro-Related Challenges

Volume/Issue: 2016/53

Series: IMF Working Papers

Author(s): Arnold McIntyre , Ahmed El-Ashram , Marcio Ronci , Julien Reynaud , Natasha Che , Ke Wang , Sebastian Acevedo Mejia , and Mark Lutz

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 March 2016

ISBN: 9781513560908

Keywords: Energy Reform, Oil Price Shocks, Renewable Energy, Energy Efficiency, PPP, energy, oil, electricity, investments, investment

High energy costs contribute to dampening Caribbean competitiveness and potential growth. This paper overviews power sector challenges and takes stock of national and regional strategies to address them. It present...

A Barrel of Oil or a Bottle of Wine

A Barrel of Oil or a Bottle of Wine »

Source: A Barrel of Oil or a Bottle of Wine : How Do Global Growth Dynamics Affect Commodity Prices?

Volume/Issue: 2011/1

Series: IMF Working Papers

Author(s): Tahsin Saadi Sedik , and Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2011

ISBN: 9781455211791

Keywords: Wine, Comovement, Global growth, Emerging economies, crude oil, oil demand, Nonrenewable Resources and Conservation: Other, Energy: Demand and Supply, Energy and the Macroeconomy,

This paper investigates the causes of extreme fluctuations in commodity prices from 1990 to 2010. Analyzing two very distinct commodities-crude oil and fine wine, we find that macroeconomic factors are the main det...

In the Pipeline

In the Pipeline »

Source: In the Pipeline : Georgia's Oil and Gas Transit Revenues

Volume/Issue: 2004/209

Series: IMF Working Papers

Author(s): Jonathan Dunn , Andreas Billmeier , and Bert van Selm

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 November 2004

ISBN: 9781451874785

Keywords: Transit fees, fiscal revenue, gas, oil and gas, gas transit, oil producing, oil producing countries, Energy and the Macroeconomy,

Starting in 2005, nontax revenue in Georgia is expected to rise significantly, in the form of transit fees for oil transported through the Baku-Tbilisi-Ceyhan Oil Pipeline. Transit fees for gas transported through...

Forecasting the Nominal Brent Oil Price with VARs-One Model Fits All?

Forecasting the Nominal Brent Oil Price with VARs-One Model Fits All? »

Source: Forecasting the Nominal Brent Oil Price with VARs-One Model Fits All?

Volume/Issue: 2015/251

Series: IMF Working Papers

Author(s): Benjamin Beckers , and Samya Beidas-Strom

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 25 November 2015

ISBN: 9781513524276

Keywords: VARs, forecasts, prices, random walk, demand, Time-Series Models, Forecasting and Other Model Applications, Energy and the Macroeconomy, All Countries,

We carry out an ex post assessment of popular models used to forecast oil prices and propose a host of alternative VAR models based on traditional global macroeconomic and oil market aggregates. While the exact spe...

World Crude Oil Markets

World Crude Oil Markets »

Source: World Crude Oil Markets : Monetary Policy and the Recent Oil Shock

Volume/Issue: 2006/62

Series: IMF Working Papers

Author(s): Noureddine Krichene

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 March 2006

ISBN: 9781451863222

Keywords: elasticities, impulse responses, multipliers, volatility, natural gas, oil demand, crude oil price, Money and Interest Rates: General, Monetary Policy, Central Banking

This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model. Low price and high income elasticities of demand and rigid supply explain high price volatilit...

Issues in Domestic Petroleum Pricing in Oil-Producing Countries

Issues in Domestic Petroleum Pricing in Oil-Producing Countries »

Source: Issues in Domestic Petroleum Pricing in Oil-Producing Countries

Volume/Issue: 2002/140

Series: IMF Working Papers

Author(s): Sanjeev Gupta , Benedict Clements , Kevin Fletcher , and Gabriela Inchauste

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2002

ISBN: 9781451856132

Keywords: Oil, petroleum, subsidies, domestic prices, incidence, subsidy, fuel oil, petroleum products, oil exporters, Energy and the Macroeconomy

This paper discusses issues relating to the domestic pricing of petroleum in oil-producing countries. It finds that in most major oil-exporting countries, government policies keep domestic prices below free-market...

Imperfect Competition and the Design of VAT Regimes

Imperfect Competition and the Design of VAT Regimes »

Source: Imperfect Competition and the Design of VAT Regimes : The Case of Energy Trade Between Russia and Ukraine

Volume/Issue: 2002/235

Series: IMF Working Papers

Author(s): Clinton Shiells

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2002

ISBN: 9781451875669

Keywords: Russia, Energy Trade, VAT, Imperfect Competition, oil exports, export price, gas exports, export tax, crude oil, Market Structure and Pricing: General

Under imperfect competition, Russia and Ukraine may choose to deviate from optimal tax considerations which suggest use of a destination-based VAT regime. Oil and gas trade is a major source of Russian tax revenue,...

Oil Price Volatility and the Role of Speculation

Oil Price Volatility and the Role of Speculation »

Source: Oil Price Volatility and the Role of Speculation

Volume/Issue: 2014/218

Series: IMF Working Papers

Author(s): Samya Beidas-Strom , and Andrea Pescatori

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 12 December 2014

ISBN: 9781498333481

Keywords: oil and the business cycle, crude oil speculation and inventories, demand and supply shocks, oil price volatility, vector autoregression (VAR), price, market, demand, prices, inventories

How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we sh...