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Global Imbalances and Petrodollars
Hasanov, Fuad - 2009
Oil exporters have run large current account surpluses. We explore oil exporters' role in our understanding and the resolution of global imbalances. Current account dynamics are estimated for oil-exporting countries and the rest of the world. We find that fiscal policy has a much stronger effect...
Persistent link: https://www.econbiz.de/10012677770
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OPEC and the Oil Market
Pescatori, Andrea - 2022
This paper studies the historical importance of OPEC for oil price fluctuations. An event-study approach is used to identify the effects of OPEC announcements on oil price fluctuations. Results show that price volatility is higher than typical around OPEC meetings. Also, members' compliance, a...
Persistent link: https://www.econbiz.de/10015060114
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Understanding the Inflationary Process in the GCC Region : The Case of Saudi Arabia and Kuwait
Alogeel, Hesham - 2008
Saudi Arabia and Kuwait. The paper utilizes a model that accounts for foreign factors affecting inflation, such as trading …This paper investigates the factors that affect inflation in the GCC region by examining the inflationary processes in … partners' inflation and exchange rate pass-through effect, as well as domestic influences. The analysis concludes that, in the …
Persistent link: https://www.econbiz.de/10014409052
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Oil Shocks and External Balances
International Monetary Fund (IMF); International … - 2007
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 changes in net foreign assets (NFA) during 1975-2004. We explicitly take a global...
Persistent link: https://www.econbiz.de/10005264112
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On the Sources of Oil Price Fluctuations
Unalmis, Deren; Unalmis, Ibrahim; Unsal, D. Filiz - International Monetary Fund (IMF) - 2009
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 aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to...
Persistent link: https://www.econbiz.de/10008561072
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Peaks, Spikes, and Barrels; Modeling Sharp Movements in Oil Prices
Pant, Malika; Mühleisen, Martin; Thomas, Alun H. - International Monetary Fund (IMF) - 2010
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, others view the phenomenon mostly as a result of financial investors flocking...
Persistent link: https://www.econbiz.de/10008646422
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A Barrel of Oil or a Bottle of Wine; How Do Global Growth Dynamics Affect Commodity Prices?
Sedik, Tahsin Saadi; Cevik, Serhan - International Monetary Fund (IMF) - 2011
This paper investigates the causes of extreme fluctuations in commodity prices from 1990 to 2010. Analyzing two very distinct commodities-crude oil and fine wine, we find that macroeconomic factors are the main determinants of commodity prices. Although supply constraints have the expected...
Persistent link: https://www.econbiz.de/10008839357
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Soaring of the Gulf Falcons: Diversification in the GCC Oil Exporters in Seven Propositions
Cherif, Reda; Hasanov, Fuad - International Monetary Fund (IMF) - 2014
A key priority for the Gulf Cooperation Council (GCC) countries is to create a dynamic non-oil tradable sector to support sustainable growth. Since export diversification takes a long time, it has to start now. We argue that the failure to diversify away from oil stems mainly from market...
Persistent link: https://www.econbiz.de/10011242377
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Does Inflation Slow Long-Run Growth in India?
Mohaddes, Kamiar; Raissi, Mehdi - International Monetary Fund (IMF) - 2014
This paper examines the long-run relationship between consumer price index industrial workers (CPI-IW) inflation and …, there is a negative long-run relationship between inflation and economic growth in India. We also find statistically …-significant inflation-growth threshold effects in the case of states with persistently-elevated inflation rates of above 5.5 percent. This …
Persistent link: https://www.econbiz.de/10011142122
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Inflation and income inequality : is food inflation different?
Walsh, James P.; Yu, Jiangyan - 2012
There is an extensive literature noting that high inflation can add to income inequality, and a parallel literature … assessing the effect of rising food prices on the poor. This paper attempts to combine these strands by dividing inflation into … food and nonfood inflation and assessing whether food inflation affects income inequality differently from nonfood …
Persistent link: https://www.econbiz.de/10009618580