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The global oil dynamics has significant implications for both oil exporting and importing small open economies. However, much of the literature on oil shocks is oriented towards advanced oil-importing economies. Micro-founded studies that explore the effects of oil shocks from the standpoint of...
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In 2000 and 2001 Russia faced a puzzle: high world oil prices, while ensuring GDP growth and strong fiscal balance …
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and world oil prices using a vector autoregressive (VAR) approach. We focus on an economy, which is a non-OPEC oil …
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