This study investigates why the exchange rates of oil-exporting countries do not follow the monetary model after the oil prices hikes in 2000. In empirical research, real GDP is considered as real output, while changes in oil rents are not included in GDP growth. However, in practice, oil rents...

Cover -- Title -- Copyright -- Contents -- List of Figures and Tables -- List of Contributors -- Introduction Counter-Shock and Counter-Revolution -- Part I: Oil Prices in Context -- 1. Price Regimes, Price Series and Price Trends: Oil Shocks and Counter-Shocks in Historical Perspective -- 2....