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Financial Globalization in Emerging Economies : Much Ado About Nothing?
Levy-Yeyati, Eduardo Levy - 2014
relevant for emerging markets as they integrate financially with the rest of the world. This paper argues that, because of the …
Persistent link: https://www.econbiz.de/10013068213
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Inflation Targeting and Exchange Rate Volatility in Emerging Markets
Torres, Rene Cabral - 2017
The paper investigates the relevance of the exchange rate on the reaction function of the central banks of 24 emerging market economies for the period 2000Q1 to 2015Q2. This is done by first employing fixed-effects ordinary least squares and then system generalized method of the moments...
Persistent link: https://www.econbiz.de/10012968743
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Emerging Economies, Trade Policy, and Macroeconomic Shocks
Bown, Chad P. - 2017
economies over 1989-2010; by 2010, these WTO member countries collectively accounted for 21 percent of world merchandise imports … and 22 percent of world GDP. The paper examines determinants of carefully constructed, bilateral measures of new import …
Persistent link: https://www.econbiz.de/10012974694
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Sources of Volatility During Four Oil Price Crashes
Baffes, John - 2017
Previous sharp oil price declines have been accompanied by elevated ex post volatility. In contrast, volatility was much less elevated during the oil price crash in 2014/15. This paper provides evidence that oil prices declined in a relatively measured manner during 2014/15, with dispersion of...
Persistent link: https://www.econbiz.de/10012970942
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Oil Price Volatility, Economic Growth and the Hedging Role of Renewable Energy
Rentschler, Jun E. - 2017
This paper investigates the adverse effects of oil price volatility on economic activity and the extent to which countries can hedge against such effects by using renewable energy. By considering the Realized Volatility of oil prices, rather than following the standard approach of considering...
Persistent link: https://www.econbiz.de/10012973994
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How Much Does an Increase in Oil Prices Affect the Global Economy? Some Insights from a General Equilibrium Analysis
Timilsina, Govinda R. - 2017
A global computable general equilibrium model is used to analyze the economic impacts of rising oil prices with endogenously determined availability of biofuels to mitigate those impacts. The negative effects on the global economy are comparable to those found in other studies, but the impacts...
Persistent link: https://www.econbiz.de/10012974209
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Oil Price Risks and Pump Price Adjustments
Kojima, Masami - 2017
Between 1999 and 2008, world oil prices more than quadrupled in real terms. For oil importers, vulnerability to oil … domestic product. Oil intensity fell in more than half the countries in every income group and in every region of the world … pass-through to consumers of increases in world prices of gasoline, diesel, kerosene, and liquefied petroleum gas between …
Persistent link: https://www.econbiz.de/10012974899
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Oil Spills on Other Commodities
Baffes, John - 2016
This paper examines the effect of crude oil prices on the prices of 35 internationally traded primary commodities for the 1960-2005 period. It finds that the pass-through of crude oil price changes to the overall non-energy commodity index is 0.16. At a more disaggregated level, the fertilizer...
Persistent link: https://www.econbiz.de/10012747627
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A Cross-Country Database of Fiscal Space
Kose, M. Ayhan - 2017
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10012950618
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Sharing Oil Rents and Political Violence
Cordella, Tito - 2017
This paper investigates how the devolution of oil windfalls affects the likelihood of political violence. It shows that transferring large shares of oil wealth can prevent conflict, while transferring small shares can trigger it. Among the different transfer schemes, fiscal transfers (to...
Persistent link: https://www.econbiz.de/10012967487