Causes and Consequences of the Oil Shock of 2007-08*
... in the real price of oil that cannot be explained statistically by his measures of shocks to supply and aggregate demand. Another way one might try to measure the contribution of precautionary demand is by looking at changes in inventories. The third column of Figure 5 records the monthly change in ...
... in the real price of oil that cannot be explained statistically by his measures of shocks to supply and aggregate demand. Another way one might try to measure the contribution of precautionary demand is by looking at changes in inventories. The third column of Figure 5 records the monthly change in ...
NBER WORKING PAPER SERIES James D. Hamilton Working Paper 15002
... oil price shocks, looking at what caused the price increase and what effects it had on the economy. Whereas historical oil price shocks were primarily caused by physical disruptions of supply, the price run-up of 2007-08 was caused by strong demand confronting stagnating world production. Although t ...
... oil price shocks, looking at what caused the price increase and what effects it had on the economy. Whereas historical oil price shocks were primarily caused by physical disruptions of supply, the price run-up of 2007-08 was caused by strong demand confronting stagnating world production. Although t ...
Oil Price Impacts and Multifamily Housing
... Next, we narrow down the analyses by MSA (Metropolitan Statistical Area). Metros around the oil patch regions are typically smaller. However, several larger MSAs have a relatively high concentration of oil and gas jobs. Exhibit 3 lists the metros with a relatively high concentration of oil and gas j ...
... Next, we narrow down the analyses by MSA (Metropolitan Statistical Area). Metros around the oil patch regions are typically smaller. However, several larger MSAs have a relatively high concentration of oil and gas jobs. Exhibit 3 lists the metros with a relatively high concentration of oil and gas j ...
impact of oil shocks (revenue) on government revenue
... They emphasized the difference between oil importing and oil exporting countries. They conclude that oil price increases have a negative impact on economic activity for oilimporting countries, while the relationship for oil exporting countries is mixed. UK’s economy, according to them exhibits a sur ...
... They emphasized the difference between oil importing and oil exporting countries. They conclude that oil price increases have a negative impact on economic activity for oilimporting countries, while the relationship for oil exporting countries is mixed. UK’s economy, according to them exhibits a sur ...
Archivo fuente en Word 97 - Casa de Bolsa Banorte Ixe
... at the level observed in 4Q00), and the expected sales mix implies higher freight charges. There is an upside potential in this scenario: if Pemex’ activity increases, then will see a shift towards domestic projects benefiting margins as freight expenses should be lower. Although Pemex has announced ...
... at the level observed in 4Q00), and the expected sales mix implies higher freight charges. There is an upside potential in this scenario: if Pemex’ activity increases, then will see a shift towards domestic projects benefiting margins as freight expenses should be lower. Although Pemex has announced ...
Oil Price Volatility and US Macroeconomic Activity
... imply a symmetric effect. However, the effect can also be asymmetric. In particular, sharp oil price changes—either increases or decreases—may reduce aggregate output temporarily because they delay business investment by raising uncertainty or induce costly sectoral resource reallocation. Consistent ...
... imply a symmetric effect. However, the effect can also be asymmetric. In particular, sharp oil price changes—either increases or decreases—may reduce aggregate output temporarily because they delay business investment by raising uncertainty or induce costly sectoral resource reallocation. Consistent ...
Investor Sentiment and Price Predictability in the Oil Future Market
... It is more likely to happen that sentiment affect upcoming price movements when the market sentiment is bullish rather than when the market sentiment is normal Examining when the sentiment is suspected to be bullish - Retrieve sentiment level that is higher than the average level over the sample per ...
... It is more likely to happen that sentiment affect upcoming price movements when the market sentiment is bullish rather than when the market sentiment is normal Examining when the sentiment is suspected to be bullish - Retrieve sentiment level that is higher than the average level over the sample per ...
Who`s Afraid of a Big Bad Oil Shock? (Brookings Papers on
... oil prices are so volatile in the short run.) Using a calculation roughly similar to that described above, I estimate that a doubling of real oil prices would lead to a slowdown in productivity growth by 0.11 percentage point for the first year and by 0.04 percentage point per year over a ten-year h ...
... oil prices are so volatile in the short run.) Using a calculation roughly similar to that described above, I estimate that a doubling of real oil prices would lead to a slowdown in productivity growth by 0.11 percentage point for the first year and by 0.04 percentage point per year over a ten-year h ...
Annual Report - Skyview Capital
... incessant leakages, pipeline vandalization and crude oil theft in oil producing areas of the country. The budget was premised on estimated revenue of N3.73trllion leaving a deficit of N912billion or 19.16% and 1.9% of GDP. Crude oil price assumption of $77.5 a barrel ($76 in 2013), crude oil product ...
... incessant leakages, pipeline vandalization and crude oil theft in oil producing areas of the country. The budget was premised on estimated revenue of N3.73trllion leaving a deficit of N912billion or 19.16% and 1.9% of GDP. Crude oil price assumption of $77.5 a barrel ($76 in 2013), crude oil product ...
he Natural Resource Curse
... 4. Countries where physical command natural resources by the government or a hereditary elite automatically confers wealth on the holders may be less likely to develop the institutions that are conducive to economic development ...
... 4. Countries where physical command natural resources by the government or a hereditary elite automatically confers wealth on the holders may be less likely to develop the institutions that are conducive to economic development ...
influens change in v..
... and $14 during the period (BP 2011). As a whole, the price of oil was relatively stable during this period. OPEC was established in 1960 with five founding members Iran, Iraq, Saudi Arabia, Kuwait and Venezuela. By the end of 1971, six other nations joined the group: Qatar, Nigeria, United Arab Emir ...
... and $14 during the period (BP 2011). As a whole, the price of oil was relatively stable during this period. OPEC was established in 1960 with five founding members Iran, Iraq, Saudi Arabia, Kuwait and Venezuela. By the end of 1971, six other nations joined the group: Qatar, Nigeria, United Arab Emir ...
Increases in Global Commodity Prices
... farmers was always below the world price. As a result, production fell. ...
... farmers was always below the world price. As a result, production fell. ...
Oil price shocks: Demand vs Supply in a two
... on the relation between oil price and macroeconomy after 1973 see Hooker (1996) (and the reply by Hamilton (1996)) and Barsky and Kilian (2004)7 . Bernanke, Gertler and Watson (1997) and Barsky and Kilian (2002) argue that the conduct of monetary policy is crucial in explaining the periods of recess ...
... on the relation between oil price and macroeconomy after 1973 see Hooker (1996) (and the reply by Hamilton (1996)) and Barsky and Kilian (2004)7 . Bernanke, Gertler and Watson (1997) and Barsky and Kilian (2002) argue that the conduct of monetary policy is crucial in explaining the periods of recess ...
Oil prices and the New Zealand economy Felix Delbruck, Economics Department
... It is not immediately clear why the use of fuels other than petrol is relatively high in New Zealand, and what this means for the ease with which the economy could adjust to higher ...
... It is not immediately clear why the use of fuels other than petrol is relatively high in New Zealand, and what this means for the ease with which the economy could adjust to higher ...
Business Cycles and Oil Price Fluctuations: Some Evidence
... frictions and misallocation of resources may dampen the positive stimulus on the activity level stemming from an increase in the oil price. These effects are closely related to the phenomena discussed in the literature under the name of "dutch disease", i.e. problems that may occur in an economy tha ...
... frictions and misallocation of resources may dampen the positive stimulus on the activity level stemming from an increase in the oil price. These effects are closely related to the phenomena discussed in the literature under the name of "dutch disease", i.e. problems that may occur in an economy tha ...
Oil Prices, Exhaustible Resources, and Economic Growth*
... know is that, for whatever reason, Saudi Arabia produced 600,000 fewer barrels each day in 2010 than it did in 2005, and with growing Saudi consumption of their own oil, the drop in exports from Saudi Arabia has been even more dramatic. A mix of factors has clearly also contributed to stagnating pro ...
... know is that, for whatever reason, Saudi Arabia produced 600,000 fewer barrels each day in 2010 than it did in 2005, and with growing Saudi consumption of their own oil, the drop in exports from Saudi Arabia has been even more dramatic. A mix of factors has clearly also contributed to stagnating pro ...
NBER WORKING PAPER SERIES OIL PRICES, EXHAUSTIBLE RESOURCES, AND ECONOMIC GROWTH
... know is that, for whatever reason, Saudi Arabia produced 600,000 fewer barrels each day in 2010 than it did in 2005, and with growing Saudi consumption of their own oil, the drop in exports from Saudi Arabia has been even more dramatic. A mix of factors has clearly also contributed to stagnating pro ...
... know is that, for whatever reason, Saudi Arabia produced 600,000 fewer barrels each day in 2010 than it did in 2005, and with growing Saudi consumption of their own oil, the drop in exports from Saudi Arabia has been even more dramatic. A mix of factors has clearly also contributed to stagnating pro ...
174-176 - Revista Iberoamericana de Micología
... and/or bent, arising directly from the aerial mycelium, equal, hyaline to slightly yellowish, roughened, without appendages (Figure 1). Examined under a light microscope, the aspects of these basic units of reproduction were as by Hesseltine & Ellis [6]. According to A.F. Blakeslee, zygospore produc ...
... and/or bent, arising directly from the aerial mycelium, equal, hyaline to slightly yellowish, roughened, without appendages (Figure 1). Examined under a light microscope, the aspects of these basic units of reproduction were as by Hesseltine & Ellis [6]. According to A.F. Blakeslee, zygospore produc ...
The US Economy and $150-Per-Barrel Crude Oil
... production of Texas crude oil. As a result there was remarkable stability in domestic oil prices during this period. After the 1970s, a period of rising political instability in the Middle East when the Organization for Petroleum Exporting Countries (OPEC) was formed, oil prices became much more vol ...
... production of Texas crude oil. As a result there was remarkable stability in domestic oil prices during this period. After the 1970s, a period of rising political instability in the Middle East when the Organization for Petroleum Exporting Countries (OPEC) was formed, oil prices became much more vol ...
Do We Need to Go to War for Oil?
... To say that a reduction in the supply of oil cannot cause a shortage is not to say that it cannot cause harm. As noted above, any country that is a net importer of a good will be harmed by the higher price if the supply of that good falls. But the key is that the supply must fall. Which brings us to ...
... To say that a reduction in the supply of oil cannot cause a shortage is not to say that it cannot cause harm. As noted above, any country that is a net importer of a good will be harmed by the higher price if the supply of that good falls. But the key is that the supply must fall. Which brings us to ...
Oil price shocks and the Portuguese economy since the 1970s
... extent and relevance of this relationship was put forward by Hamilton (1983), who showed in an influential paper that nine out of ten US recessions since World War II had been preceded by an oil price increase, i.e. he finds evidence in support of Granger causality between oil prices and real GNP. J ...
... extent and relevance of this relationship was put forward by Hamilton (1983), who showed in an influential paper that nine out of ten US recessions since World War II had been preceded by an oil price increase, i.e. he finds evidence in support of Granger causality between oil prices and real GNP. J ...
Oil Price Volatility Factors An Applied Research Project Presented in
... economies of BRICS+1 will drive their respective governments to continue to influence the geopolitics for satisfying their energy security. The strategic petroleum reserves build or in the process of making outside OECD are higher than ever. These emerging economies have already started to shape the ...
... economies of BRICS+1 will drive their respective governments to continue to influence the geopolitics for satisfying their energy security. The strategic petroleum reserves build or in the process of making outside OECD are higher than ever. These emerging economies have already started to shape the ...
Oil-exporting countries: key structural features, economic
... 2005 data from the Energy Information Administration of the US government was used to identify the world top net oil exporters, and 2005 United Nations Comtrade data was used to capture energy dependence. Thus the article looks at those countries that are most relevant to the global oil markets and ...
... 2005 data from the Energy Information Administration of the US government was used to identify the world top net oil exporters, and 2005 United Nations Comtrade data was used to capture energy dependence. Thus the article looks at those countries that are most relevant to the global oil markets and ...
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.""