acting as a proxy for the (missing) market interest rate. Real output in the long run is shaped by oil exports through their …

acting as a proxy for the (missing) market interest rate. Real output in the long run is shaped by oil exports through their …

is both theoretical and empirical. On the theoretical side, we develop a model for the global oil market and integrate … contrast, a negative shock to oil supply in Saudi Arabia leads to an immediate and permanent increase in oil prices, given that … economies, and large losses in real equity prices worldwide. …

This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the …-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining … in commodity exporters, inflation falling in most countries, and equity prices rising worldwide. Overall, our results …

acting as a proxy for the (missing) market interest rate. Real output in the long run is shaped by oil exports through their …