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Oil Shocks and External Balances

Oil Shocks and External Balances »

Source: Oil Shocks and External Balances

Volume/Issue: 2007/110

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 2007

ISBN: 9781451866742

Keywords: External Balances, Oil demand Shocks, Oil supply Shocks, International Financial Integration, oil exporters, crude oil, oil shocks, oil supply,

This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries' external balance, including the oil and non-oil trade balances, the current account, and c...

New Shocks, Exchange Rates and Equity Prices1

New Shocks, Exchange Rates and Equity Prices1 »

Source: New Shocks, Exchange Rates and Equity Prices

Volume/Issue: 2008/284

Series: IMF Working Papers

Author(s): Pietro Cova , Alessandro Rebucci , Akito Matsumoto , and Massimiliano Pisani

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

ISBN: 9781451871425

Keywords: News Shocks, Persistence, exchange rate, money supply, exchange rate volatility,

We study exchange rate and equity price dynamics, in general equilibrium, in the presence of news shocks about future productivity and monetary policy. We identify a condition under which these asset prices become...

Credibility. Capital Controls, and the EMS

Credibility. Capital Controls, and the EMS »

Source: Credibility. Capital Controls, and the EMS

Volume/Issue: 1989/9

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 1989

ISBN: 9781451927030

Keywords: inflation, monetary policy, money supply, central bank, monetary shock

A common rationale for EMS membership is that it enhances the credibility of a central bank’s commitment to stable monetary growth. In this paper we consider this idea in the light of two features of the sys...

Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters

Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters »

Source: Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters

Volume/Issue: 2008/289

Series: IMF Working Papers

Author(s): Alfredo Cuevas , and Secil Topak

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2008

ISBN: 9781451871470

Keywords: supply shocks, relative prices, Taylor rules, relative price, central bank,

When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation while accepting first round effects. We analyze the experience of South Africa and other infla...

On the Sources of Oil Price Fluctuations

On the Sources of Oil Price Fluctuations »

Source: On the Sources of Oil Price Fluctuations

Volume/Issue: 2009/285

Series: IMF Working Papers

Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874303

Keywords: Oil Price Fluctuations, Oil Demand and Oil Supply Shocks, Precautionary Demand Shock, Small Open Economy, DSGE Models, oil supply, oil demand, oil market, aggregate demand,

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggreg...

On the Drivers of Inflation in Sub-Saharan Africa

On the Drivers of Inflation in Sub-Saharan Africa »

Source: On the Drivers of Inflation in Sub-Saharan Africa

Volume/Issue: 2015/189

Series: IMF Working Papers

Author(s): Anh Nguyen , Jemma Dridi , Filiz Unsal , and Oral Williams

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 August 2015

ISBN: 9781513583013

Keywords: Global VAR (GVAR), supply, supply shocks, demand, Time-Series Models, Monetary Policy (Targets, Instruments, and Effects), General, Sub-Saharan Africa.,

The perception that inflation dynamics in Sub-Saharan Africa (SSA) are driven by supply shocks implies a limited role for monetary policy in influencing inflation in the short run. SSA's rapid growth, its integrati...

Credit-Supply Shocks and Firm Productivity in Italy1

Credit-Supply Shocks and Firm Productivity in Italy1 »

Source: Credit-Supply Shocks and Firm Productivity in Italy

Volume/Issue: 2017/67

Series: IMF Working Papers

Author(s): Sebastian Dörr , Mehdi Raissi , and Anke Weber

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 24 March 2017

ISBN: 9781475588668

Keywords: Financial crises, Europe, Italy, Productivity, credit-supply shocks, labor market rigidities, Financial Markets and the Macroeconomy

The Italian economy has been struggling with low productivity growth and bank balance sheet strains. This paper examines the implications for firm productivity of adverse shocks to bank lending in Italy, using a no...

Does Demand Volatility Lower Growth and Raise Inflation? Evidence from the Caribbean

Does Demand Volatility Lower Growth and Raise Inflation? Evidence from the Caribbean »

Source: Does Demand Volatility Lower Growth and Raise Inflation? Evidence from the Caribbean

Volume/Issue: 2014/67

Series: IMF Working Papers

Author(s): Magda Kandil

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 29 April 2014

ISBN: 9781484359679

Keywords: Demand Shocks Asymmetric Effects Contractionary and Inflationary Biases, aggregate demand, price inflation, real output, money supply, Asymmetric Effects, Contractionary and Inflationary Biases., Demand Shocks, General,

The paper investigates asymmetry in the allocation of aggregate demand shocks between real output growth and price inflation over the business cycle in a sample of fifteen Caribbean countries. In most countries, th...

On the Sources and Consequences of Oil Price Shocks

On the Sources and Consequences of Oil Price Shocks »

Source: On the Sources and Consequences of Oil Price Shocks : The Role of Storage

Volume/Issue: 2012/270

Series: IMF Working Papers

Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2012

ISBN: 9781475586367

Keywords: oil storage, oil price fluctuations, oil demand, oil supply shocks speculative oil demand, sticky-price DSGE model, inflation, price fluctuations, oil prices, nominal interest rate, oil demand and oil supply shocks speculative oil demand,

Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of...

Assessing the Fragility of Global Trade

Assessing the Fragility of Global Trade »

Source: Assessing the Fragility of Global Trade : The Impact of Localized Supply Shocks Using Network Analysis

Volume/Issue: 2017/30

Series: IMF Working Papers

Author(s): Yevgeniya Korniyenko , Magali Pinat , and Brian Dew

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 13 February 2017

ISBN: 9781475578515

Keywords: External shocks, Imports, International trade, International trade, Spillovers, Supply, Manufactured goods, supply shocks, network analysis, Country and Industry Studies of Trade

Anecdotal evidence suggests the existence of specific choke points in the global trade network revealed especially after natural disasters (e.g. hard drive components and Thailand flooding, Japanese auto components...