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exported primary commodities, imported capital goods and intermediate inputs, and a financial shock, modeled as fluctuations in …
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This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output - the delay between a discovery and production is on average 4 to 6 years. We first...
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exported primary commodities, imported capital goods and intermediate inputs, and a financial shock, modeled as fluctuations in …
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