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Macroeconomic and Sectoral Effects of Terms-Of-Trade Shocks : The Experience of the Oil-Exporting Developing Countries
International Monetary Fund - 1999
This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are largely importable or the labor supply is sufficiently elastic, then natural-resource booms increase aggregate investment and worsen the current account, but Dutch ‘Disease’...
Persistent link: https://www.econbiz.de/10014400547
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Resource windfalls, macroeconomic stability and growth : the role of political institutions
Arezki, Rabah - 2011
Persistent link: https://www.econbiz.de/10009424793
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Resource Windfalls, Macroeconomic Stability and Growth : The Role of Political Institutions
Kazimov, Kazim - 2011
We use a new dataset on non-resource GDP to examine the performance of commodity-exporting countries in terms of macroeconomic stability and economic growth in a panel of up to 129 countries during the period 1970-2007. Our main findings are threefold. First, we find that overall government...
Persistent link: https://www.econbiz.de/10014399309
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Macroeconomic effects of reforms on three diverse oil exporters : Russia, Saudi Arabia, and the UK
Beidas-Strom, Samya; Lorusso, Marco - 2019
We build and estimate open economy two-bloc DSGE models to study the transmission and impact of shocks in Russia, Saudi Arabia and the United Kingdom. After accounting for country-specific fiscal and monetary sectors, we estimate their key policy and structural parameters. Our findings suggest...
Persistent link: https://www.econbiz.de/10012112123
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Addressing the Natural Resource Curse : An Illustration From Nigeria
Subramanian, Arvind - 2003
Some natural resources-oil and minerals in particular-exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources. Waste and...
Persistent link: https://www.econbiz.de/10014403854
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Exchange Rate Regime Considerations in an Oil Economy : The Case of the Islamic Republic of Iran
Celasun, Oya - 2003
This paper provides a brief overview of the evolution of exchange rate policy in the Islamic Republic of Iran from 1993 to 2002 and reviews the basic criteria for the choice of the exchange rate regime in the medium term. The analysis highlights the merits of an intermediate regime which would...
Persistent link: https://www.econbiz.de/10014404022
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Review of the Experience with Oil Stabilization and Savings Funds in Selected Countries
Fasano-Filho, Ugo - 2000
in Norway, Chile (copper), the State of Alaska, Venezuela, Kuwait, and Oman, and to draw some preliminary conclusions on …
Persistent link: https://www.econbiz.de/10014399919
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Counting the oil money and the elderly : Norway's public sector balance sheet
Cabezon, Ezequiel; Henn, Christian - 2018
Based on a permanent income analysis, Gagnon (2018) has prominently suggested that Norway has saved too much, thereby …, chiefly because it also accounts for future aging costs. Unsurprisingly, we find that Norway's current assets exceed its … mainland GDP) and aging pressures are only commencing. Therefore, Norway's intertemporal financial net worth (IFNW) is negative …
Persistent link: https://www.econbiz.de/10011905922
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Unintended consequences of U. S. monetary policy shocks : Dutch disease and capital flow measures in emerging market and developing economies
Yépez, Juan F. - 2021
Dutch disease is often referred as a situation in which large and sustained foreign currency inflows lead to a contraction of the tradable sector by giving rise to a real appreciation of the home currency. This paper documents that this syndrome has been witnessed by many emerging markets and...
Persistent link: https://www.econbiz.de/10012605138
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Foreign exchange intervention and the Dutch Disease
Faltermeier, Julia; Lama C., Ruy; Medina, Juan Pablo - 2017
We study the optimal foreign exchange (FX) intervention policy in response to a positive terms of trade shock and associated Dutch disease episode in a small open economy model. We find that during a Dutch disease episode tradable production drops below the socially optimal level, resulting in...
Persistent link: https://www.econbiz.de/10011671116