Series: IMF Working Papers
Author(s): Rabah Arezki , Valerie Ramey , and Liugang Sheng
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 29 September 2015
Keywords: news shocks, current account and business cycles, production, investment, gdp, economy, capital, General, Open Economy Macroeconomics,
This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the...