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Inequality and Unsustainable Growth: Two Sides of the Same Coin?

Inequality and Unsustainable Growth: Two Sides of the Same Coin? »

Volume/Issue: 2011/8

Series: Staff Discussion Notes

Author(s): Jonathan Ostry , and Andrew Berg

Publisher: International Organizations Research Journal

Publication Date: 08 April 2011

Language: Russian

DOI: http://dx.doi.org/10.5089/9781616355302.006

ISBN: 9781616355302

Keywords: Income distribution, Developed countries, Developing countries, Economic growth, Emerging markets, Poverty reduction, sustainable growth, per capita income, external debt, external shocks

This note raises the IMF's profile on a number of issues related to inequality, unemployment, governance, etc. It builds on earlier empirical work that examined correlations between growth downbreaks/duration of gr...

A Crude Shock
			: Explaining the Impact of the 2014-16 Oil Price Decline Across Exporters

A Crude Shock : Explaining the Impact of the 2014-16 Oil Price Decline Across Exporters »

Volume/Issue: 2017/160

Series: IMF Working Papers

Author(s): Francesco Grigoli , Alexander Herman , and Andrew Swiston

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 July 2017

DOI: http://dx.doi.org/10.5089/9781484310175.001

ISBN: 9781484310175

Keywords: Event study, fundamentals, oil exporters, oil price, transmission of shocks, Economic Growth of Open Economies, Energy and the Macroeconomy

The decline in oil prices in 2014-16 was one of the sharpest in history, and put to test the resilience of oil exporters. We examine the degree to which economic fundamentals entering the oil price decline explain...

Estimating Fiscal Multipliers with Correlated Heterogeneity

Estimating Fiscal Multipliers with Correlated Heterogeneity »

Volume/Issue: 2016/13

Series: IMF Working Papers

Author(s): Emmanouil Kitsios , and Manasa Patnam

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 February 2016

DOI: http://dx.doi.org/10.5089/9781498389808.001

ISBN: 9781498389808

Keywords: Panel analysis, Economic theory, Fiscal policy, Government expenditures, Economic growth, Fiscal Multipliers, Nonseparable Unobserved Heterogeneity, Oil Price, Models with Panel Data

We estimate the average fiscal multiplier, allowing multipliers to be heterogeneous across countries or over time and correlated with the size of government spending. We demonstrate that this form of nonseparable u...

International Remittances, Migration, and Primary Commodities in FSGM

International Remittances, Migration, and Primary Commodities in FSGM »

Volume/Issue: 2017/20

Series: IMF Working Papers

Author(s): Stephen Snudden

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 30 January 2017

DOI: http://dx.doi.org/10.5089/9781475572957.001

ISBN: 9781475572957

Keywords: Remittances, Migrations, Labor demand, Commodities, Oil, Commodity markets, Structural vector autoregression, General equilibrium models, International Migration; Remittances; Macroeconomic Interdependence; Oil Price.

This paper adds international migration and remittances into the IMF's Flexible System of Global Models (FSGM). FSGM is a global general equilibrium model with endogenous primary commodity markets. A method to esti...

Oil Price Shocks and Economic Growth in Oil-Exporting Countries
			: Does the Size of Government Matter?

Oil Price Shocks and Economic Growth in Oil-Exporting Countries : Does the Size of Government Matter? »

Volume/Issue: 2017/287

Series: IMF Working Papers

Author(s): Amir Sadeghi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 December 2017

DOI: http://dx.doi.org/10.5089/9781484335390.001

ISBN: 9781484335390

Keywords: Oil Price Shock, Government Expenditure, Growth, Oil-Exporting Countries, General

This paper examines the impact of government size on how output and government expenditure respond to oil price shocks in 28 oil-exporting countries between 1990 and 2016. Results suggest that if the size of govern...

Oil Prices and GCC Stock Markets: New Evidence from Smooth Transition Models

Oil Prices and GCC Stock Markets: New Evidence from Smooth Transition Models »

Volume/Issue: 2018/98

Series: IMF Working Papers

Author(s): Nidhaleddine Ben Cheikh , Sami Ben Naceur , Oussama Kanaan , and Christophe Rault

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 09 May 2018

DOI: http://dx.doi.org/10.5089/9781484353622.001

ISBN: 9781484353622

Keywords: Qatar, Saudi Arabia, Middle East, Oil prices, Oman, Bahrain, Kuwait, United Arab Emirates, Yemen, Republic of, GCC stock markets

Our paper examines the effect of oil price changes on Gulf Cooperation Council (GCC) stock markets using nonlinear smooth transition regression (STR) models. Contrary to conventional wisdom, our empirical results r...

Oil Prices and Inflation Dynamics: Evidence from Advanced and Developing Economies

Oil Prices and Inflation Dynamics: Evidence from Advanced and Developing Economies »

Volume/Issue: 2017/196

Series: IMF Working Papers

Author(s): Sangyup Choi , Davide Furceri , Prakash Loungani , Saurabh Mishra , and Marcos Poplawski-Ribeiro

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 05 September 2017

DOI: http://dx.doi.org/10.5089/9781484316658.001

ISBN: 9781484316658

Keywords: Monetary policy, JEL Classification Numbers: E31, E37, Q43 Keywords: oil price shocks, inflation pass-through, local projections, oil price shocks, Forecasting and Simulation, Energy and the Macroeconomy, Q43

We study the impact of fluctuations in global oil prices on domestic inflation using an unbalanced panel of 72 advanced and developing economies over the period from 1970 to 2015. We find that a 10 percent increase...

Oil Prices and the Global Economy
			: Is It Different This Time Around?

Oil Prices and the Global Economy : Is It Different This Time Around? »

Volume/Issue: 2016/210

Series: IMF Working Papers

Author(s): Kamiar Mohaddes , and M. Pesaran

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2016

DOI: http://dx.doi.org/10.5089/9781475552034.001

ISBN: 9781475552034

Keywords: Economic growth, Markets, Oil, Oil prices, United States, Western Hemisphere, Econometric models, Supply and demand, Vector autoregression, Equity prices

The recent plunge in oil prices has brought into question the generally accepted view that lower oil prices are good for the United States and the global economy. In this paper, using a quarterly multi-country econ...

Financial Sector Debt Bias

Financial Sector Debt Bias »

Volume/Issue: 2016/217

Series: IMF Working Papers

Author(s): Oana Luca , and Alexander Tieman

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 November 2016

DOI: http://dx.doi.org/10.5089/9781475552805.001

ISBN: 9781475552805

Keywords: Banks, Financial stability, Financial sector, Tax bias, Debt bias, Leverage, Non-Banks, Oil prices, equity prices, dividends

Most tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect financial stability. This paper models and estimates debt bias in the financial sector, and presen...

Riding the Energy Transition
			: Oil Beyond 2040

Riding the Energy Transition : Oil Beyond 2040 »

Volume/Issue: 2017/120

Series: IMF Working Papers

Author(s): Reda Cherif , Fuad Hasanov , and Aditya Pande

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 22 May 2017

DOI: http://dx.doi.org/10.5089/9781484301128.001

ISBN: 9781484301128

Keywords: oil price, energy transition, electric vehicle, renewable energy, Global Commodity Crises, General, Technological Change: Choices and Consequences

Recent technological developments and past technology transitions suggest that the world could be on the verge of a profound shift in transportation technology. The return of the electric car and its adoption, like...