Food and Fuel Prices—Recent Developments, Macroeconomic
... This report provides a first broad assessment of the impact of the surge in food and fuel prices on the balance of payments, budgets, prices, and poverty of a large sample of countries. It reviews countries’ macroeconomic policy responses to date and also discusses Fund advice for managing the price ...
... This report provides a first broad assessment of the impact of the surge in food and fuel prices on the balance of payments, budgets, prices, and poverty of a large sample of countries. It reviews countries’ macroeconomic policy responses to date and also discusses Fund advice for managing the price ...
What Next for the Oil and Gas Industry?
... of Energy Studies. In November 2007 he received a lifetime achievement award for research from King Abdullah at the opening of the 3rd OPEC Summit in Riyadh. He retired in 1993 from British Petroleum where his posts included Special Adviser to the Managing Directors, Regional Co-ordinator for BP’s s ...
... of Energy Studies. In November 2007 he received a lifetime achievement award for research from King Abdullah at the opening of the 3rd OPEC Summit in Riyadh. He retired in 1993 from British Petroleum where his posts included Special Adviser to the Managing Directors, Regional Co-ordinator for BP’s s ...
Doctoral Thesis “Essays on Open Economy, Inflation, and Labour Markets”
... model is the introduction of sticky wages. Under this assumption the volatility of CPI inflation and the impossibility for some workers to adjust their wages in order to keep their markups at the desired level makes the stabilization of CPI relevant in this context. In particular, the assumption on ...
... model is the introduction of sticky wages. Under this assumption the volatility of CPI inflation and the impossibility for some workers to adjust their wages in order to keep their markups at the desired level makes the stabilization of CPI relevant in this context. In particular, the assumption on ...
t - valérie marcel
... of Energy Studies. In November 2007 he received a lifetime achievement award for research from King Abdullah at the opening of the 3rd OPEC Summit in Riyadh. He retired in 1993 from British Petroleum where his posts included Special Adviser to the Managing Directors, Regional Co-ordinator for BP’s s ...
... of Energy Studies. In November 2007 he received a lifetime achievement award for research from King Abdullah at the opening of the 3rd OPEC Summit in Riyadh. He retired in 1993 from British Petroleum where his posts included Special Adviser to the Managing Directors, Regional Co-ordinator for BP’s s ...
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... Kilian and Murphy (2014), oil price shocks reflect a variety of demand and supply shocks in oil markets, the composition of which evolves over time. As each shock is associated with different responses in the price of oil and in U.S. real GDP, changes in the composition of oil demand and oil supply ...
... Kilian and Murphy (2014), oil price shocks reflect a variety of demand and supply shocks in oil markets, the composition of which evolves over time. As each shock is associated with different responses in the price of oil and in U.S. real GDP, changes in the composition of oil demand and oil supply ...
Fiscal policy challenges in oil-exporting countries - ECB
... spending needs in, for example, the areas of physical and social infrastructure (in view of the development level of most oil exporters) and international considerations (oil revenue recycling, in particular in the context of global imbalances), which call for fiscal expansion. In the longer run, fi ...
... spending needs in, for example, the areas of physical and social infrastructure (in view of the development level of most oil exporters) and international considerations (oil revenue recycling, in particular in the context of global imbalances), which call for fiscal expansion. In the longer run, fi ...
Saudi Arabia: Selected Issues, IMF Country Report No. 15/286
... Interest rate changes, on the other hand, have a less significant impact on economic outcomes. Sheehan and Russer (1995), for instance, find that the monetary policy channel in Saudi Arabia has a limited impact on the economy because tighter policy is usually associated with periods of strong growth ...
... Interest rate changes, on the other hand, have a less significant impact on economic outcomes. Sheehan and Russer (1995), for instance, find that the monetary policy channel in Saudi Arabia has a limited impact on the economy because tighter policy is usually associated with periods of strong growth ...
Cenovus finishes first quarter with strong balance
... of condensate inventory drawdowns in a falling oil price environment, combined with typically higher blend ratios during the winter months, also had a significant negative impact on realized heavy oil pricing in the first quarter. These factors are expected to improve in a rising price environment a ...
... of condensate inventory drawdowns in a falling oil price environment, combined with typically higher blend ratios during the winter months, also had a significant negative impact on realized heavy oil pricing in the first quarter. These factors are expected to improve in a rising price environment a ...
Macroeconomic Determination of Prices of Agricultural and Mineral
... 1. Futures price of oil initially lagged behind spot price. 2. High volume of trading ≠ net short position 3. Commodities that lack futures markets are as volatile as those that have them. 4. Historical efforts to ban speculative futures markets have failed to reduce volatility. ...
... 1. Futures price of oil initially lagged behind spot price. 2. High volume of trading ≠ net short position 3. Commodities that lack futures markets are as volatile as those that have them. 4. Historical efforts to ban speculative futures markets have failed to reduce volatility. ...
Fiscal Policy Rules for Oil Producing Countries: A Welfare
... The literature on fiscal policy in oil producing countries (OPCs) is extensive, but dominated by empirical applications for individual countries rather than analytical studies. 2 3 In addition, the selection of an appropriate social welfare function for the inter-temporal distribution of oil wealth ...
... The literature on fiscal policy in oil producing countries (OPCs) is extensive, but dominated by empirical applications for individual countries rather than analytical studies. 2 3 In addition, the selection of an appropriate social welfare function for the inter-temporal distribution of oil wealth ...
Oil Price Cycles and Political Instability
... In political science research on oil has largely revolved around the notion of a resource curse, referring to the apparent paradox that resource abundant states seem to experience detrimental effects on economic and political indicators. While economists have focused mainly on the macroeconomic impa ...
... In political science research on oil has largely revolved around the notion of a resource curse, referring to the apparent paradox that resource abundant states seem to experience detrimental effects on economic and political indicators. While economists have focused mainly on the macroeconomic impa ...
GEP2017a - CH 2 - MNA.pub - Public Documents Profile Viewer
... unchanged conflict conditions. Continued rebalancing in the global oil market, as consumption rises and non-OPEC supply declines, will support the envisaged rise in prices. Among oil exporters, the pace of recovery will be slower than expected in June 2016, largely because of developments in Saudi A ...
... unchanged conflict conditions. Continued rebalancing in the global oil market, as consumption rises and non-OPEC supply declines, will support the envisaged rise in prices. Among oil exporters, the pace of recovery will be slower than expected in June 2016, largely because of developments in Saudi A ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: Rational Expectations and Economic Policy
... balances, inflation was partly self-generating for a time. But the process, while oscillatory, was not unstable; eventually the price level increased to the point where excess real balances were eliminated. As real balances were further reduced by inflation in 1974, aggregate demand weakened. This p ...
... balances, inflation was partly self-generating for a time. But the process, while oscillatory, was not unstable; eventually the price level increased to the point where excess real balances were eliminated. As real balances were further reduced by inflation in 1974, aggregate demand weakened. This p ...
A Look Inside a Key Economic Debate: How Should Monetary Policy Respond
... Figure 12 shows the U.S. share of world oil consumption (in blue) ticking down, but also clearly shows (in red) the steady climb in the share consumed by three of the so-called emergingmarket economies – China, India, and Brazil. Figure 13 shows the growth in oil consumption in those three countries ...
... Figure 12 shows the U.S. share of world oil consumption (in blue) ticking down, but also clearly shows (in red) the steady climb in the share consumed by three of the so-called emergingmarket economies – China, India, and Brazil. Figure 13 shows the growth in oil consumption in those three countries ...
Climate Change Mitigation and OPEC Economies
... This thesis focuses on the relationship between the Organisation of Petroleum Exporting Countries (OPEC) economies and global climate change mitigation policies with a view to determining the energy exports demand security risks of OPEC member states. The successful implementation of a universally a ...
... This thesis focuses on the relationship between the Organisation of Petroleum Exporting Countries (OPEC) economies and global climate change mitigation policies with a view to determining the energy exports demand security risks of OPEC member states. The successful implementation of a universally a ...
Unspanned Macroeconomic Factors in Oil Futures
... with no clear relation to the real economy.1 On the other hand, macroeconomic research has investigated the dynamics of oil prices with economic data, finding that oil shocks forecast recessions.2 However, these studies use spot prices only, while futures markets are more active than spot markets an ...
... with no clear relation to the real economy.1 On the other hand, macroeconomic research has investigated the dynamics of oil prices with economic data, finding that oil shocks forecast recessions.2 However, these studies use spot prices only, while futures markets are more active than spot markets an ...
Supply and Demand Shocks in the Oil Market and Their Predictive
... interest in the macroeconomic e¤ects of changes in the availability of oil supplies, beginning with Hamilton (1983), who documented an inverse relationship between oil price changes and real GDP growth rates. More recently, with Kilian (2009a) being the signi…cant contribution, there has been a real ...
... interest in the macroeconomic e¤ects of changes in the availability of oil supplies, beginning with Hamilton (1983), who documented an inverse relationship between oil price changes and real GDP growth rates. More recently, with Kilian (2009a) being the signi…cant contribution, there has been a real ...
The Impact of the Income Tax Laws on The Energy Crisis: Oil and
... consumption. Id. The FEA estimates presently recoverable U.S. reserves at 35.3 billion barrels and Middle East reserves at 316.0 billion. Id. at 3. 36. Annual rates of discovery have exceeded annual rates of consumption for each 5-year period from 1920 to 1970. S. PENNER & L. ICERMAN, supra note 14, ...
... consumption. Id. The FEA estimates presently recoverable U.S. reserves at 35.3 billion barrels and Middle East reserves at 316.0 billion. Id. at 3. 36. Annual rates of discovery have exceeded annual rates of consumption for each 5-year period from 1920 to 1970. S. PENNER & L. ICERMAN, supra note 14, ...
US Shale Oil Dynamics in a Low Price Environment
... 2015 are bringing large benefits to world consuming centers, but they are also bringing dramatic cuts in capital expenditures for oil and gas development, particularly in the unconventional plays in the United States. The recent decline in oil prices has been met with anticipation of significantly l ...
... 2015 are bringing large benefits to world consuming centers, but they are also bringing dramatic cuts in capital expenditures for oil and gas development, particularly in the unconventional plays in the United States. The recent decline in oil prices has been met with anticipation of significantly l ...
The Economic Implications of Disruptions to Maritime Oil
... the option to draw down their strategic reserves, and certain oil exporting countries could provide more oil than they otherwise would supply to the market. We account for potential mitigation in our economic theory of oil supply disruptions. A disruption to the supply of oil transported through a c ...
... the option to draw down their strategic reserves, and certain oil exporting countries could provide more oil than they otherwise would supply to the market. We account for potential mitigation in our economic theory of oil supply disruptions. A disruption to the supply of oil transported through a c ...
Publication - Oxford Institute for Energy Studies
... dynamics of commodity spot prices. Classical studies based on the theory of storage explain the variation in the basis in terms of changes in the fundamentals of supply and demand and/or storage technology of the underlying commodity (Kaldor, 1939; Working, 1948; Brennan, 1958; and Telser, 1958). Ot ...
... dynamics of commodity spot prices. Classical studies based on the theory of storage explain the variation in the basis in terms of changes in the fundamentals of supply and demand and/or storage technology of the underlying commodity (Kaldor, 1939; Working, 1948; Brennan, 1958; and Telser, 1958). Ot ...
Impact of Oil Prices Fluctuations on Economies in the Age
... The supply of crude oil is divided into two main categories, OPEC and nonOPEC suppliers. OPEC (Organization of the Petroleum Exporting Countries) is a permanent, intergovernmental organization, established in Baghdad, Iraq, in September 1960. OPEC now comprises twelve members: Algeria, Angola, Ecuad ...
... The supply of crude oil is divided into two main categories, OPEC and nonOPEC suppliers. OPEC (Organization of the Petroleum Exporting Countries) is a permanent, intergovernmental organization, established in Baghdad, Iraq, in September 1960. OPEC now comprises twelve members: Algeria, Angola, Ecuad ...
Do Oil Price Shocks Affect Household Consumption?
... 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 existing market price causing many of the leading developed nations to suffer. Another oil cris ...
... 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 existing market price causing many of the leading developed nations to suffer. Another oil cris ...
a scandal or a scapegoat? - University of Nottingham
... Rising commodity prices do not only affect consumers but they have far reaching consequences for governments and possibly fatal consequences for the world’s poorest. The International Taskforce for Commodities (henceforth ITFC) (2008) have stated that the nominal value of US oil imports ...
... Rising commodity prices do not only affect consumers but they have far reaching consequences for governments and possibly fatal consequences for the world’s poorest. The International Taskforce for Commodities (henceforth ITFC) (2008) have stated that the nominal value of US oil imports ...
Energy Policies and the Mexican Economy January 2004
... The simulations of the macroeconomy examine three sets of policy changes, both singly and in combination. These include the removal of energy sector subsidies, improvement in productive efficiency of the energy sector, and the alteration of oil output levels. The equilibrium requirements of Computab ...
... The simulations of the macroeconomy examine three sets of policy changes, both singly and in combination. These include the removal of energy sector subsidies, improvement in productive efficiency of the energy sector, and the alteration of oil output levels. The equilibrium requirements of Computab ...
1973 oil crisis
The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries (OAPEC, consisting of the Arab members of the OPEC plus Egypt and Syria) proclaimed an oil embargo. By the end of the embargo in March 1974, the price of oil had risen from $3 per barrel to nearly $12. The oil crisis, or ""shock"", had many short-term and long-term effects on global politics and the global economy. It was later called the ""first oil shock"", followed by the 1979 oil crisis, termed the ""second oil shock.""