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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...

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...

Taking Stock

Taking Stock »

Source: Taking Stock : Who Benefited from the Oil Price Shocks?

Volume/Issue: 2017/104

Series: IMF Working Papers

Author(s): Diego Cerdeiro , and Dmitry Plotnikov

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 04 May 2017

ISBN: 9781475595918

Keywords: Output, Oil price, world demand, oil supply, oil demand, Forecasting and Simulation, Demand and Supply, Energy and the Macroeconomy

The effect that the recent decline in the price of oil has had on growth is far from clear, with many observers at odds to explain why it does not seem to have provided a significant boost to the world economy. Thi...

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...

Oil Prices and the Global Economy

Oil Prices and the Global Economy »

Source: Oil Prices and the Global Economy

Volume/Issue: 2017/15

Series: IMF Working Papers

Author(s): Rabah Arezki , Zoltan Jakab , Douglas Laxton , Akito Matsumoto , Armen Nurbekyan , Hou Wang , and Jiaxiong Yao

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 27 January 2017

ISBN: 9781475572360

Keywords: Oil prices, Oil sector, Supply and demand, Oil production, Econometric models, Oil market; macroeconomic model; depletion; consumption efficiency; technology; cycle.

This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such...

Nigeria's Non-Oil Exports

Nigeria's Non-Oil Exports »

Source: Nigeria's Non-Oil Exports : Determinants of Supply and Demand, 1970-1990

Volume/Issue: 1994/59

Series: IMF Working Papers

Author(s): Inutu Lukonga

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 May 1994

ISBN: 9781451965841

Keywords: oil exports, export performance, agricultural exports, export supply, domestic demand

This paper reviews Nigeria’s non-oil export performance during the period 1970-90, analyzes the factors underlying the dismal performance, and estimates the supply-price elasticity of the exports for both th...

Peaks, Spikes, and Barrels

Peaks, Spikes, and Barrels »

Source: Peaks, Spikes, and Barrels : Modeling Sharp Movements in Oil Prices

Volume/Issue: 2010/186

Series: IMF Working Papers

Author(s): Malika Pant , Martin Mühleisen , and Alun Thomas

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 August 2010

ISBN: 9781455202201

Keywords: oil price, consumption demand, asset demand, speculation, oil prices, opec, oil imports, oil supply, crude oil, Prices

Global oil markets were roiled by sharp price swings in 2008, and economists are still divided over the reasons for the unusual volatility. Those emphasizing fundamentals point to inelastic supply and demand curves...

The U.S. Oil Supply Revolution and the Global Economy1

The U.S. Oil Supply Revolution and the Global Economy1 »

Source: The U.S. Oil Supply Revolution and the Global Economy

Volume/Issue: 2015/259

Series: IMF Working Papers

Author(s): Kamiar Mohaddes , and Mehdi Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 10 December 2015

ISBN: 9781513509846

Keywords: Tight oil, shale oil, fracking revolution, oil price decline, oil supply, global macroeconometric modeling, international business cycle, oil, prices, oil prices

This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2...

Optimal Oil Production and the World Supply of Oil

Optimal Oil Production and the World Supply of Oil »

Source: Optimal Oil Production and the World Supply of Oil

Volume/Issue: 2012/294

Series: IMF Working Papers

Author(s): Nikolay Aleksandrov , lajos Gyurko , and Raphael Espinoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

ISBN: 9781616354831

Keywords: Real Options, Capacity Expansion, Equilibrium Price of Oil, oil revenues, oil prices, world supply, oil fields, General, Energy and the Macroeconomy,

We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss th...

The Differential Effects of Oil Demand and Supply Shocks on the Global Economy*

The Differential Effects of Oil Demand and Supply Shocks on the Global Economy* »

Source: The Differential Effects of Oil Demand and Supply Shocks on the Global Economy

Volume/Issue: 2012/253

Series: IMF Working Papers

Author(s): Paul Cashin , Kamiar Mohaddes , Mehdi Raissi , and Maziar Raissi

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 23 October 2012

ISBN: 9781475597158

Keywords: Global VAR (GVAR), global macroeconomic modeling, impulse responses, international business cycle, oil-demand and oil-supply shocks, oil exporters, exporters, oil prices, exporting countries, Time-Series Models

We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2-2011Q2, to discriminate between supply-driven and demand-dr...