Download or read book Adjustment to Expected and Unexpected Oil Price Increases written by Nancy Peregrim Marion and published by . This book was released on 1982 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book International Dimensions of Monetary Policy written by Jordi Galí and published by University of Chicago Press. This book was released on 2010-03-15 with total page 663 pages. Available in PDF, EPUB and Kindle. Book excerpt: United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
Download or read book Global Implications of Lower Oil Prices written by Mr.Aasim M. Husain and published by International Monetary Fund. This book was released on 2015-07-14 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
Download or read book The Distributional Implications of the Impact of Fuel Price Increases on Inflation written by Mr. Kangni R Kpodar and published by International Monetary Fund. This book was released on 2021-11-12 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.
Download or read book Oil Economics written by M. Anandan, S. Ramaswamy and published by MJP Publisher. This book was released on 2019-06-03 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: 1. Global Oil Production, Consumption and Price fluctuations, 2. Global Energy scenario – Resources and Reserves, 3. Concepts and Theories, 4. Global oil Industry and Energy Economics, 5. Oil Production, Consumption and Price Behaviour, 6. Findings and Conclusion, 7. References.
Download or read book Inflation Expectations written by Peter J. N. Sinclair and published by Routledge. This book was released on 2009-12-16 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Inflation is regarded by the many as a menace that damages business and can only make life worse for households. Keeping it low depends critically on ensuring that firms and workers expect it to be low. So expectations of inflation are a key influence on national economic welfare. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The main focus of the volume is on likely inflation developments. A number of factors have led practitioners and academic observers of monetary policy to place increasing emphasis recently on inflation expectations. One is the spread of inflation targeting, invented in New Zealand over 15 years ago, but now encompassing many important economies including Brazil, Canada, Israel and Great Britain. Even more significantly, the European Central Bank, the Bank of Japan and the United States Federal Bank are the leading members of another group of monetary institutions all considering or implementing moves in the same direction. A second is the large reduction in actual inflation that has been observed in most countries over the past decade or so. These considerations underscore the critical – and largely underrecognized - importance of inflation expectations. They emphasize the importance of the issues, and the great need for a volume that offers a clear, systematic treatment of them. This book, under the steely editorship of Peter Sinclair, should prove very important for policy makers and monetary economists alike.
Download or read book Oil Prices and the Global Economy written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2017-01-27 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.
Download or read book Factors Determining External Debt written by Gerhard Rübel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 271 pages. Available in PDF, EPUB and Kindle. Book excerpt: Against the background of the international debt problem which originated with the oil shocks of the seventies, this book undertakes a theoretical analysis of the factors determining aggregate external debt, using the example of a raw material importing country. Instead of the usual static definition of the trade balance as the difference between the value of exports and imports in a single period, here an intertemporal approach is used with a country's current account balance determined as the difference between aggregate saving and aggregate net investment, variables which are primarily dependent on expectations about the future. The analysis is based on microeconomic optimization models which enables individual causal relationships to be presented in a detailed way, the "optimal" size of external debt to be determined and the desirability of an immediate adjustment in the level of debt following an external disturbance to be shown from a welfare point of view.
Download or read book Youth Technical Sessions Proceedings written by Vladimir Litvinenko and published by CRC Press. This book was released on 2019-05-24 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over a decade ago the World Petroleum Council launched an initiative to hold an international professional youth forum. The first forum took place in October 2004 in China, and had as its motto: "Young people and innovations are the future of the oil industry." It was the first major event in the history of the WPC in which young professionals and academics had the leading role, and had the opportunity to exchange their ideas in insights on the oil and gas industry with industry leaders and main representatives of the oil and gas industry. Since then, issues of professional development and the disclosure of the creative potential of young industry professionals have been on the agenda of the World Petroleum Council as one of the key areas for the development of international cooperation focused on a strategic perspective. The Future Leaders Forum of the World Petroleum Council VI is the largest international platform for professional communication of young specialists in the oil and gas industry. The contributions in this book are much of interest to professionals and scientists interested or involved in the oil and gas industry or related areas.
Download or read book Economic Adjustment and Exchange Rates in Developing Countries written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2007-12-01 with total page 460 pages. Available in PDF, EPUB and Kindle. Book excerpt: In spite of the attention paid exchange rates in recent economic debates on developing countries, relatively few studies have systematically analyzed in detail the various ramifications of exchange rate policy in these countries. In this new volume from the National Bureau of Economic Research, leading economists use rigorous models to tackle various exchange rate issues, while also illuminating policy implications that emerge from their analyses. The volume, divided into four main sections, addresses: the role of exchange rates in stabilization programs and the adjustment process; the importance of exchange rate policy during liberalization reform in developing countries; exchange rate problems relevant and unique to developing countries, illustrated by case studies; and the problems defining, measuring, and identifying determinants of real exchange rates. Authors of individual papers examine the relation between commercial policies and exchange rates, the role of exchange rate policy in stabilization programs, the effectiveness of devaluations as a policy tool, and the interaction between exchange rate terms of trade an capital flow. This research will not only prove crucial to our understanding of the role of exchange rates in developing countries, but will clearly set the standard for future work in the field.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: An intertemporal optimizing model of a small open economy is used to analyze how terms of trade changes affect real exchange rates and the trade balance. Temporary current, (expected) future, and permanent changes in the terms of trade are considered. The results suggest that the relationship between the terms of trade and the current account (the so-called Harberger-Laursen-Metzler effect) is sensitive to whether the model incorporates nontradable goods. Thus, the real exchange rate may be an important variable through which terms of trade shocks are transmitted to the current account.
Download or read book Energy Price Shocks and Macroeconomic Performance written by Douglas R. Bohi and published by Routledge. This book was released on 2017-02-17 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt: The oil price shocks of the 1970’s led to severe recessions in the 1980’s in the United States. Originally published in 1989 in the aftermath, Bohi attempts to show both how energy prices can cause a decline in output and employment and to explore important other factors which led to the recessions using the US, United Kingdom, Japan and Germany as examples. The findings in Energy Price Shocks and Macroeconomic Performance have major implications for energy policy and questions government plans which focus solely on preventing another oil supply disruption. This title will be of interest to students of environmental studies and economics as well as professionals.
Download or read book Economic Policy and the Great Stagflation written by Alan S. Blinder and published by Elsevier. This book was released on 2013-09-11 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policy-oriented science. This book summarizes what economists do and do not know about the inflation and recession that affected the U.S. economy during the years of the Great Stagflation in the mid-1970s. The topics discussed include the basic concepts of stagflation, turbulent economic history of 1971-1976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wage-price controls, fiscal policy, and monetary policy to the Great Stagflation is also elaborated. This publication is beneficial to economists and students researching on the history of the Great Stagflation and policy errors of the 1970s.
Download or read book Oil and the political economy in the Middle East written by Martin Beck and published by Manchester University Press. This book was released on 2021-08-17 with total page 205 pages. Available in PDF, EPUB and Kindle. Book excerpt: The downhill slide in the global price of crude oil, which started mid-2014, had major repercussions across the Middle East for net oil exporters, as well as importers closely connected to the oil-producing countries from the Gulf. Following the Arab uprisings of 2010 and 2011, the oil price decline represented a second major shock for the region in the early twenty-first century – one that has continued to impose constraints, but also provided opportunities. Offering the first comprehensive analysis of the Middle Eastern political economy in response to the 2014 oil price decline, this book connects oil market dynamics with an understanding of socio-political changes. Inspired by rentierism, the contributors present original studies on Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The studies reveal a large diversity of country-specific policy adjustment strategies: from the migrant workers in the Arab Gulf, who lost out in the post-2014 period but were incapable of repelling burdensome adjustment policies, to Egypt, Jordan, and Lebanon, who have never been able to fulfil the expectation that they could benefit from the 2014 oil price decline. With timely contributions on the COVID-19-induced oil price crash in 2020, this collection signifies that rentierism still prevails with regard to both empirical dynamics in the Middle East and academic discussions on its political economy.
Download or read book International Handbook on the Economics of Mega Sporting Events written by Wolfgang Maennig and published by Edward Elgar Publishing. This book was released on 2012 with total page 641 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Olympics to the World Cup, mega sporting events are a source of enjoyment for tens of thousands, but can also be a source of intense debate and controversy. This insightful new Handbook addresses a number of central questions, including: How are host cities selected and under what economic conditions? How are these events organized, and how is local resistance overcome? Based on historical and empirical experience, what are the pitfalls for the organizers of these events? What are the potential economic benefits, including any international image effects? How can the costs be minimized and the benefits maximized for host cities and countries? How do these mega events impact the challenges of globalization and what is their environmental legacy? Compiled and edited by two internationally renowned sports economists, the expert contributions elaborate on the specific mechanisms of the bid processes, analyse the determining factors of winning bids, and illustrate how to construct future bid campaigns. Underpinned by case studies from four continents and by theoretical considerations, the reasons for seemingly systemic cost overruns are explored and analysed, as are the effects on national and regional employment and income, property values, non-traditional economic variables (such as psychological and marketing benefits) and urban branding and transformation. The Handbook also reflects on important elements of design of the games in order to better plan, prepare and allocate resources – including, for example, sustainability issues and the use of campaigns to secure positive perceptions. This book provides an up-to-date analysis of the financing and economic impact of mega sporting events, as well as a full discussion of how host cities can maximize the benefits from their experience. As such, it will prove a fascinating read for academics, students, researchers and policymakers with an interest in economics and public sector economics generally, and more specifically, in the economics of sport.
Download or read book Financing Adjustment and the International Monetary Fund written by Peter B. Kenen and published by . This book was released on 1986 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: Study on the evolution of the International Monetary Fund as a financial institution during its existence and some recommendations for reform of the structure.
Download or read book The Effects of Currency Substitutionon the Response of the Current Account to Supply Shocks written by International Monetary Fund and published by International Monetary Fund. This book was released on 1988-01-01 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard real models predict that a permanent increase in oil prices would result in a current account surplus. This is due to the fact that investment falls while saving remains unchanged. This paper shows that if currency substitution is introduced into the analysis, the same shock could cause a current account deficit. Furthermore, the higher the dependence of the economy on oil, the larger would be the deficit. The presence of foreign money makes it optimal for the public to decrease saving following the terms of trade deterioration. The fall in saving could be larger than the decline in investment.
