Markups and Oil Prices in Canada
... forestry and fishing; mining; manufacturing; utilities (electricity, gas and water); construction; and services. The sectoral analysis reveals three interesting findings and, in addition, allows us to check robustness using an alternative measure of the markup, namely, the pricecost margin. First, w ...
... forestry and fishing; mining; manufacturing; utilities (electricity, gas and water); construction; and services. The sectoral analysis reveals three interesting findings and, in addition, allows us to check robustness using an alternative measure of the markup, namely, the pricecost margin. First, w ...
The Impacts of U.S. Crude Oil Exports on Domestic Crude
... Indirect Impacts – represent the impacts outside of Sector A in those industries that supply or contribute to the production of intermediate goods and services to Sector A. These are impacts due to the industry inter-linkages caused by the iteration of industries purchasing from other industries, br ...
... Indirect Impacts – represent the impacts outside of Sector A in those industries that supply or contribute to the production of intermediate goods and services to Sector A. These are impacts due to the industry inter-linkages caused by the iteration of industries purchasing from other industries, br ...
The Determinants of Stagflation in a Panel of Countries
... supplies of food, simultaneously lowered the real income of non-farm workers and raised the rate of in ation in most developed economies. In the aftermath of the 1973 oil crisis, economists started to explore the origins of the stag ation process. Among the rst was the study of Gordon (1975) who in ...
... supplies of food, simultaneously lowered the real income of non-farm workers and raised the rate of in ation in most developed economies. In the aftermath of the 1973 oil crisis, economists started to explore the origins of the stag ation process. Among the rst was the study of Gordon (1975) who in ...
The Determinants of Stagflation in a Panel of Countries
... supplies of food, simultaneously lowered the real income of non-farm workers and raised the rate of in ation in most developed economies. In the aftermath of the 1973 oil crisis, economists started to explore the origins of the stag ation process. Among the rst was the study of Gordon (1975) who in ...
... supplies of food, simultaneously lowered the real income of non-farm workers and raised the rate of in ation in most developed economies. In the aftermath of the 1973 oil crisis, economists started to explore the origins of the stag ation process. Among the rst was the study of Gordon (1975) who in ...
V. The OPEC Disease - Amazon Web Services
... wealthy oil states capable of controlling world petroleum supplies and prices for its own benefit. It has become all too clear over the last few years, however, that OPEC cannot control supply, and its members have deeply divided and conflicting economic and security interests. OPEC cannot act as a ...
... wealthy oil states capable of controlling world petroleum supplies and prices for its own benefit. It has become all too clear over the last few years, however, that OPEC cannot control supply, and its members have deeply divided and conflicting economic and security interests. OPEC cannot act as a ...
Essays on the Liquidity Trap, Oil Shocks, and the Great Moderation
... discussing the effects of exogenous oil price changes and towards analyzing the implications of the underlying shocks that cause the oil price to change in the rst place. This is an advantage over the existing literature, which treats the macroeconomic effects and policy implications of oil price mo ...
... discussing the effects of exogenous oil price changes and towards analyzing the implications of the underlying shocks that cause the oil price to change in the rst place. This is an advantage over the existing literature, which treats the macroeconomic effects and policy implications of oil price mo ...
Forecasting the Price of Oil
... in population. Predictability in population, however, need not translate into out-of-sample forecastability. The latter question is the main focus of sections 5 through 8. In sections 5, 6 and 7, we compare a wide range of out-of-sample forecasting methods for the nominal price of oil. For example, ...
... in population. Predictability in population, however, need not translate into out-of-sample forecastability. The latter question is the main focus of sections 5 through 8. In sections 5, 6 and 7, we compare a wide range of out-of-sample forecasting methods for the nominal price of oil. For example, ...
Chapter 4: Commodity Price Swings and Commodity Exporters
... the baseline World Economic Outlook projections, commodity prices are forecast to decline somewhat during 2012–13 (see Chapter 1). Sizable downside risks to global growth also pose risks of further downward adjustment in commodity prices. In contrast, if oil prices were to rise sharply as a result o ...
... the baseline World Economic Outlook projections, commodity prices are forecast to decline somewhat during 2012–13 (see Chapter 1). Sizable downside risks to global growth also pose risks of further downward adjustment in commodity prices. In contrast, if oil prices were to rise sharply as a result o ...
Oil Demand, Oil Prices, Economic Growth and the Resource Curse
... to the extent that in a world suddenly without oil, all the major distribution systems that allow economic transactions on a more than local basis would fail and the world economy would collapse. According to British Petroleum (BP, 2012), the average global oil consumption in 2011 was 88.03 million ...
... to the extent that in a world suddenly without oil, all the major distribution systems that allow economic transactions on a more than local basis would fail and the world economy would collapse. According to British Petroleum (BP, 2012), the average global oil consumption in 2011 was 88.03 million ...
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... effects because they amplify negative real GDP responses to positive oil price shocks, while dampening positive real GDP responses to negative oil price shocks. For a review of the economic rationale of asymmetric responses the reader is referred to Kilian (2014). While asymmetric models of the tran ...
... effects because they amplify negative real GDP responses to positive oil price shocks, while dampening positive real GDP responses to negative oil price shocks. For a review of the economic rationale of asymmetric responses the reader is referred to Kilian (2014). While asymmetric models of the tran ...
Oil Price Cycles and Political Instability
... and social unrest in Africa, and finds that a one percentage increase in the domestic consumer food price index increases the odds of unrest with 24.1 percent. By conducting the study on a monthly basis, Smith illustrates the connection between the immediate consequences of increasing food prices a ...
... and social unrest in Africa, and finds that a one percentage increase in the domestic consumer food price index increases the odds of unrest with 24.1 percent. By conducting the study on a monthly basis, Smith illustrates the connection between the immediate consequences of increasing food prices a ...
Pitfalls in Estimating Asymmetric Effects of Energy Price
... associated with the Federal Reserve System. We thank seminar participants at the Federal Reserve Board and Michigan State University for helpful comments. ...
... associated with the Federal Reserve System. We thank seminar participants at the Federal Reserve Board and Michigan State University for helpful comments. ...
150 Years of Boom and Bust - Federal Reserve Bank of Dallas
... Aliber, 2011). Second, major, positive supply shocks drove prices down. Between 1875 and 1885, annual U.S. copper production rose by more than 500 percent. The Anaconda mine in Montana “proved fabulously rich and enormously productive” (Richter, 1927, p. 255), and several others mines opened in Ariz ...
... Aliber, 2011). Second, major, positive supply shocks drove prices down. Between 1875 and 1885, annual U.S. copper production rose by more than 500 percent. The Anaconda mine in Montana “proved fabulously rich and enormously productive” (Richter, 1927, p. 255), and several others mines opened in Ariz ...
The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
... refineries are alike. Their technical configuration determines which type of crude oil they can process. Light sweet crudes are well suited for the production of gasoline, whereas heavier and sourer crudes are best suited for producing diesel fuel and for producing heavy fuel oils sold at a discoun ...
... refineries are alike. Their technical configuration determines which type of crude oil they can process. Light sweet crudes are well suited for the production of gasoline, whereas heavier and sourer crudes are best suited for producing diesel fuel and for producing heavy fuel oils sold at a discoun ...
The Impact of the Shale Oil Revolution on
... not all revisions of the stock of shale oil are necessarily downward. There is uncertainty in both directions. For example, there is evidence of significant productivity gains in shale oil production in 2014 that could raise future estimates of recoverable shale oil (see Covert 2014). There is also ...
... not all revisions of the stock of shale oil are necessarily downward. There is uncertainty in both directions. For example, there is evidence of significant productivity gains in shale oil production in 2014 that could raise future estimates of recoverable shale oil (see Covert 2014). There is also ...
World Energy Outlook 2013
... Power generation gross capacity additions and retirements by selected region in the New Policies Scenario, 2013-2035 Power capacity changes in selected regions in the New Policies Scenario Coal-fired power generation by region in the New Policies Scenario Share of coal-fired power generation by tech ...
... Power generation gross capacity additions and retirements by selected region in the New Policies Scenario, 2013-2035 Power capacity changes in selected regions in the New Policies Scenario Coal-fired power generation by region in the New Policies Scenario Share of coal-fired power generation by tech ...
Inflation in Developing Asia: Demand-Pull or Cost-Push?
... out loudly and clearly against the popular belief that external shocks are solely to blame for the region’s current inflationary woes, it also reveals that those shocks have played a supportive role. However, partly due to government subsidies and trade restrictions, the estimated pass-through of ex ...
... out loudly and clearly against the popular belief that external shocks are solely to blame for the region’s current inflationary woes, it also reveals that those shocks have played a supportive role. However, partly due to government subsidies and trade restrictions, the estimated pass-through of ex ...
Impact of low oil prices on oil exporting countries
... projects with a combined investment cost of $380bn have been dumped over the last year at global level. The situation is particularly severe for the expensive US oil shale operating companies where an increasing number of company are going bankrupt (69 ...
... projects with a combined investment cost of $380bn have been dumped over the last year at global level. The situation is particularly severe for the expensive US oil shale operating companies where an increasing number of company are going bankrupt (69 ...
Supply and Demand Shocks in the Oil Market and Their Predictive
... If markets are e¢ cient, the oil price increase and stock market decrease should occur simultaneously as agents react immediately to re‡ect the lower current and future dividends in addition to the higher expectations of the stock-market required rate-of-return. Hence, this type of shock induces a n ...
... If markets are e¢ cient, the oil price increase and stock market decrease should occur simultaneously as agents react immediately to re‡ect the lower current and future dividends in addition to the higher expectations of the stock-market required rate-of-return. Hence, this type of shock induces a n ...
Climate Change Mitigation and OPEC Economies
... climate regime is the extent to which the developed countries emissions reduction measures will impact on the economies of the oil exporting countries, and how these impacts can be minimised (Barnett and Dessai, 2002). The impact of the United Nation Framework Conventio n on Climate Change (UNFCCC) ...
... climate regime is the extent to which the developed countries emissions reduction measures will impact on the economies of the oil exporting countries, and how these impacts can be minimised (Barnett and Dessai, 2002). The impact of the United Nation Framework Conventio n on Climate Change (UNFCCC) ...
Do Oil Price Shocks Affect Household Consumption?
... shocks dates back to the 1970s when the world experienced its first oil shock in 1973 due to reduction of export of oil by the oil-producing countries followed by political conflicts emerging between then ‘OPEC’ nations in 1979. Throughout these periods, oil price rose excessively higher than the ex ...
... shocks dates back to the 1970s when the world experienced its first oil shock in 1973 due to reduction of export of oil by the oil-producing countries followed by political conflicts emerging between then ‘OPEC’ nations in 1979. Throughout these periods, oil price rose excessively higher than the ex ...
The effect of a fall in oil prices on the turnover of
... materially affected. The replies therefore indicate that sales will be affected to some degree if oil prices drop below USD 90, and that a decline to USD 70 or lower would have a severe adverse impact on petroleum-related sales in the Norwegian economy. However, a considerable number of enterprises ...
... materially affected. The replies therefore indicate that sales will be affected to some degree if oil prices drop below USD 90, and that a decline to USD 70 or lower would have a severe adverse impact on petroleum-related sales in the Norwegian economy. However, a considerable number of enterprises ...
April 2017 World Economic Outlook, Chapter 1: Global
... and trade. World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018, slightly above the October 2016 World Economic Outlook (WEO) forecast. Stronger activity and expectations of more robust global demand, coupled with agreed restrictions on oil supply, ...
... and trade. World growth is expected to rise from 3.1 percent in 2016 to 3.5 percent in 2017 and 3.6 percent in 2018, slightly above the October 2016 World Economic Outlook (WEO) forecast. Stronger activity and expectations of more robust global demand, coupled with agreed restrictions on oil supply, ...
Oil price shocks and real GDP growth: empirical evidence for
... changes in the lag specification. In addition, the effects of an oil price hike on GDP growth are overall strongest for the US, although euro area countries (Germany, France and Italy) exhibit similarly strong real effects when we use non-linear modelling. In these cases, we find that a decline in oil ...
... changes in the lag specification. In addition, the effects of an oil price hike on GDP growth are overall strongest for the US, although euro area countries (Germany, France and Italy) exhibit similarly strong real effects when we use non-linear modelling. In these cases, we find that a decline in oil ...
Measuring Oil-Price Shocks Using Market- Based
... each trading day in our sample period, we collect information on oil-related events that occurred on that day from the market commentaries and reports published in the above-mentioned trade journals. After a thorough reading of these market commentaries and reviews, we classify oil-related events in ...
... each trading day in our sample period, we collect information on oil-related events that occurred on that day from the market commentaries and reports published in the above-mentioned trade journals. After a thorough reading of these market commentaries and reviews, we classify oil-related events in ...
2000s energy crisis
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From the mid-1980s to September 2003, the inflation-adjusted price of a barrel of crude oil on NYMEX was generally under $25/barrel. During 2003, the price rose above $30, reached $60 by 11 August 2005, and peaked at $147.30 in July 2008. Commentators attributed these price increases to many factors, including the falling value of the U.S. dollar, reports from the United States Department of Energy and others showing a decline in petroleum reserves worries over peak oil, Middle East tension, and oil price speculation.For a time, geo-political events and natural disasters indirectly related to the global oil market had strong short-term effects on oil prices, such as North Korean missile tests, the 2006 conflict between Israel and Lebanon, worries over Iranian nuclear plans in 2006, Hurricane Katrina, and various other factors. By 2008, such pressures appeared to have an insignificant impact on oil prices given the onset of the global recession. The recession caused demand for energy to shrink in late 2008, with oil prices falling from the July 2008 high of $147 to a December 2008 low of $32. Oil prices stabilized by October 2009 and established a trading range between $60 and $80.