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The 2014-16 Oil Price Collapse in Retrospect : Sources and Implications

Stocker, Marc - 2018

With the benefit of hindsight, this paper provides a fresh and comprehensive look at the causes of the 2014-16 collapse in oil prices and its impact on the global economy. It disentangles the contribution of supply and demand factors, assesses the impact on activity in oil exporters and oil...

Persistent link: https://www.econbiz.de/10012920304

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

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

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

Oil Price Risks and Pump Price Adjustments

Kojima, Masami - 2017

pass-through to consumers of increases in world prices of gasoline, diesel, kerosene, and liquefied petroleum gas between …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 …

Persistent link: https://www.econbiz.de/10012974899

Impact of Oil Price Fluctuations on Financial Markets Since 2014

Nguyen, Ha - 2017

This paper investigates the causal impact of oil price fluctuations on financial markets since January 2014. Following a heteroscedasticity-based event study approach, the paper instruments changes in oil prices by exogenous shocks in oil supply. It finds that oil price declines raise...

Persistent link: https://www.econbiz.de/10012964339

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

How Much Oil is the Islamic State Group Producing? Evidence from Remote Sensing

Đỗ-Quý-Toàn - 2017

Accurately measuring oil production in low-governance contexts is an important task. Many terrorist organizations and insurgencies -- including the Islamic State group, also known as ISIL/ISIS or Daesh -- tap oil as a revenue source. Understanding spatial and temporal variation in production in...

Persistent link: https://www.econbiz.de/10012944258

Efficiency and Equity Implications of Oil Windfalls in Brazil

Jorgensen, Ole Hagen - 2017

Large oil reserves off the coast of Brazil may substantially increase the country?s oil revenue in the future. A natural resource "curse" could be the consequence if an appropriate share of the oil revenue is not invested. This issue is addressed in this paper for Brazil both theoretically and...

Persistent link: https://www.econbiz.de/10012974014

Lifting Economic Sanctions on Iran : Global Effects and Strategic Responses

Ianchovichina, Elena - 2017

This paper uses a global general equilibrium simulation model to quantify the effects of lifting economic sanctions on Iran with and without strategic responses. Iran benefits the most, with average per capita welfare gains ranging from close to 3 percent, in the case when Iran's crude oil...

Persistent link: https://www.econbiz.de/10012970129