energy prices, we find electricity prices––relative to oil and gas––to be more important in the manufacturing process …, with a one standard deviation reduction in electricity prices leading to a 2.8 percent increase in manufacturing output …. Our estimated elasticities together with plausible reductions in electricity tariffs derived from the energy reform, could …

oil market. Saudi Arabia has on several occasions used its systemic role to raise production to fill global demand gaps …This Selected Issues paper on Saudi Arabia assesses Saudi Arabia’s role in the oil market and global economy. Saudi … Arabia, the world’s largest producer and exporter of oil, has long played a systemically important role in the global oil …

much change in diversification in oil supplies over the last decade, but diversification in sources of natural gas supplies …We present evidence on one facet of energy security in OECD economies - the extent of diversification in sources of oil … and natural gas supplies. Viewed from the perspective of the energy-importing countries as a whole, there has not been …

economy that is supplying goods and services to the oil sector are leading to competitiveness pressures in other industries …

demand shock and to assess how the effects of various demand and supply shocks change in the presence of oil storage facility …. We find that business-cycle driven oil demand shocks are the most important drivers of U.S. oil price fluctuations during … supply shocks in driving oil price fluctuations. Our results also confirm that a change in the composition of shocks helps …

permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional … production technologies the effects are modest. But for larger shocks, for elasticities of substitution that decline as oil usage … is reduced to a minimum, and for production functions in which oil acts as a critical enabler of technologies, GDP growth …

examines the impact of that deleveraging on credit supply in recipient economies, with a particular focus on Asia … foreign claims was associated with a substantial reduction in domestic credit supply in a broad sample of countries. However …, the credit supply response in Asia was only about half the size of the response in non-Asian countries, possibly due to a …

between shocks to the supply and demand for global liquidity, and isolate their impact on the economy. Our results confirm …

and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a … precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE …Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes …