We assess the effects of oil price shocks on real exchange rate and output in four large energy-producing countries: Iran, Kazakhstan, Venezuela, and Russia. We estimate four-variable structural vector autoregressive models using standard long-run restrictions. Not surprisingly, we find that...

Saudi Arabia has enough wealth stashed away to survive -- as is -- for 150 years if oil dried up tomorrow. Now that is serious money. Saudi Arabia is keeping oil prices low. It's a win-win for the Saudis. It hurts Russia, hurts Iran, and puts a dent in the fracked and especially the tar sands...