shows that world oil prices play an important role in the appreciation of the exchange rates of oil-exporting developing … increasing importance of these economies in the world’s energy markets, this paper examines the role of oil prices in the …

the shock. In particular, we find that adverse shocks to Iranian oil output are neutralized in terms of their effects on … contrast, a negative shock to oil supply in Saudi Arabia leads to an immediate and permanent increase in oil prices, given that … supply shock has significant adverse effects for the global economy with real GDP falling in both advanced and emerging …