In this paper we assess the impact of oil price shocks on oil-producer and oil-consumer economies. VAR models for different countries are linked together via a trade matrix, as in Abeysinghe (2001). As expected, we find that oil producers (Russia and Canada here) benefit from oil price shocks....

In this paper, we study trade effects of droughts transmitted via damaged infrastructure. In particular, we suggest that droughts affect export via negative effects on infrastructure – land and water transport, electricity and water supply. Our estimations, based on data for export in 194...