The differential effects of oil demand and supply shocks on the global economy:
Gespeichert in:
| Format: | Elektronisch E-Book |
|---|---|
| Sprache: | English |
| Veröffentlicht: |
[Washington, D.C.]
International Monetary Fund
©2012
|
| Schriftenreihe: | IMF working paper
WP/12/253 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Beschreibung: | Title from PDF title page (IMF Web site, viewed Oct. 31, 2012). - "Middle East and Central Asia Department.". - "October 2012." 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-driven oil-price shocks and to study the time profile of their macroeconomic effects for different countries. The results indicate that the economic consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic activity, and vary for oil-importing countries compared to energy exporters. While oil importers typically face a long-lived fall in economic activity in response to a supply-driven surge in oil prices, the impact is positive for energy-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in our sample experience long-run inflationary pressures and a short-run increase in real output Includes bibliographical references |
| Beschreibung: | 1 Online-Ressource (41 pages) |
| ISBN: | 9781475544558 1475544553 |
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| 500 | |a Title from PDF title page (IMF Web site, viewed Oct. 31, 2012). - "Middle East and Central Asia Department.". - "October 2012." | ||
| 500 | |a 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-driven oil-price shocks and to study the time profile of their macroeconomic effects for different countries. The results indicate that the economic consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic activity, and vary for oil-importing countries compared to energy exporters. While oil importers typically face a long-lived fall in economic activity in response to a supply-driven surge in oil prices, the impact is positive for energy-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in our sample experience long-run inflationary pressures and a short-run increase in real output | ||
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| dewey-search | 338.2/728 |
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| discipline | Wirtschaftswissenschaften |
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| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:14:05Z |
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| isbn | 9781475544558 1475544553 |
| language | English |
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| publisher | International Monetary Fund |
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| series2 | IMF working paper |
| spelling | The differential effects of oil demand and supply shocks on the global economy prepared by Paul Cashin [and others] [Washington, D.C.] International Monetary Fund ©2012 1 Online-Ressource (41 pages) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/12/253 Title from PDF title page (IMF Web site, viewed Oct. 31, 2012). - "Middle East and Central Asia Department.". - "October 2012." 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-driven oil-price shocks and to study the time profile of their macroeconomic effects for different countries. The results indicate that the economic consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic activity, and vary for oil-importing countries compared to energy exporters. While oil importers typically face a long-lived fall in economic activity in response to a supply-driven surge in oil prices, the impact is positive for energy-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in our sample experience long-run inflationary pressures and a short-run increase in real output Includes bibliographical references BUSINESS & ECONOMICS / Industries / General bisacsh Petroleum products / Prices / Econometric models fast Industrie Wirtschaft Ökonometrisches Modell Petroleum products Prices Econometric models Cashin, Paul Sonstige oth International Monetary Fund Middle East and Central Asia Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=516444 Aggregator Volltext |
| spellingShingle | The differential effects of oil demand and supply shocks on the global economy BUSINESS & ECONOMICS / Industries / General bisacsh Petroleum products / Prices / Econometric models fast Industrie Wirtschaft Ökonometrisches Modell Petroleum products Prices Econometric models |
| title | The differential effects of oil demand and supply shocks on the global economy |
| title_auth | The differential effects of oil demand and supply shocks on the global economy |
| title_exact_search | The differential effects of oil demand and supply shocks on the global economy |
| title_full | The differential effects of oil demand and supply shocks on the global economy prepared by Paul Cashin [and others] |
| title_fullStr | The differential effects of oil demand and supply shocks on the global economy prepared by Paul Cashin [and others] |
| title_full_unstemmed | The differential effects of oil demand and supply shocks on the global economy prepared by Paul Cashin [and others] |
| title_short | The differential effects of oil demand and supply shocks on the global economy |
| title_sort | the differential effects of oil demand and supply shocks on the global economy |
| topic | BUSINESS & ECONOMICS / Industries / General bisacsh Petroleum products / Prices / Econometric models fast Industrie Wirtschaft Ökonometrisches Modell Petroleum products Prices Econometric models |
| topic_facet | BUSINESS & ECONOMICS / Industries / General Petroleum products / Prices / Econometric models Industrie Wirtschaft Ökonometrisches Modell Petroleum products Prices Econometric models |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=516444 |
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