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The decline in oil prices in 2014-16 was one of the sharpest in history, and put to test the resilience of oil exporters. We examine the degree to which economic fundamentals entering the oil price decline explain the impact on economic growth across oil exporting economies, and derive policy...
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Rising fuel subsidies have contributed to fiscal pressures in India. A key policy concern regarding subsidy reform is … implications of fuel subsidy reform in India. Fuel subsidies are found to be badly targeted, with the richest ten percent of … households receiving seven times more in benefits than the poorest ten percent. Although subsidy reform would generate …
Persistent link: https://www.econbiz.de/10014395186
consumption to changes in energy prices and the implications of our findings for the debate on energy subsidy reform. Our findings … significant long-term benefits from the reform of energy subsidies. Our findings also indicate that short-term gains from subsidy … reform are likely to be much smaller, which suggests the need for either a gradual approach to subsidy reform or for more …
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countries’ own interests. The potential fiscal, environmental and welfare impacts of energy subsidy reform are substantial …
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This paper empirically investigates the effectiveness of monetary policy transmission in the Gulf Cooperation Council (GCC) countries using a structural vector autoregressive model. The results indicate that the interest rate and bank lending channels are relatively effective in influencing...
Persistent link: https://www.econbiz.de/10012694088
This paper uses a variant of the IMF''s Global Economy Model (GEM) to estimate the macroeconomic effects of Yemen''s full accession into the Gulf Cooperation Council (GCC). After calibrating the model to Yemen and the GCC countries, several simulations were carried out to estimate the potential...
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