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Author : Ibrahim Elbadawi
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 62 pages
Book Rating : 4./5 ( download)
Download or read book Macroeconomic Framework for an Oil-based Economy written by Ibrahim Elbadawi and published by World Bank Publications. This book was released on 1993 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr. Ales Bulir
Publisher : International Monetary Fund
ISBN 13 : 1513571974
Total Pages : 30 pages
Book Rating : 4.5/5 (135 download)
Download or read book Using Macroeconomic Frameworks to Analyze the Impact of COVID-19 written by Mr. Ales Bulir and published by International Monetary Fund. This book was released on 2021-04 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This technical note and manual (TNM) addresses the following issues: • Evaluating the full implications from the policies adopted to mitigate the impact of the COVID-19 pandemic on the economy requires a well-developed macroeconomic framework. This note illustrates how such frameworks were used to analyze Colombia and Cambodia's shock impact at the beginning of the pandemic. • The use of macroeconomic frameworks is not to infer general policy conclusions from abstract models or empirical analysis but to help policymakers think through and articulate coherent forecasts, scenarios, and policy responses. • The two country cases illustrate how to construct a baseline scenario consistent with a COVID-19 shock within structural macroeconomic models. The scenario is built gradually to incorporate the available information, the pandemic's full effects, and the policy responses. • The results demonstrate the value of combining close attention to the data, near-term forecasting, and model-based analyses to support coherent policies.
Author : Naoyuki Yoshino
Publisher : Springer
ISBN 13 : 4431557970
Total Pages : 155 pages
Book Rating : 4.4/5 (315 download)
Download or read book Monetary Policy and the Oil Market written by Naoyuki Yoshino and published by Springer. This book was released on 2016-03-04 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: While oil price fluctuations in the past can be explained by pure supply factors, this book argues that it is monetary policy that plays a significant role in setting global oil prices. It is a key factor often neglected in much of the earlier literature on the determinants of asset prices, including oil prices. However, this book presents a framework for modeling oil prices while incorporating monetary policy. It also provides a complete theoretical basis of the determinants of crude oil prices and the transmission channels of oil shocks to the economy. Moreover, using several up-to-date surveys and examples from the real world, this book gives insight into the empirical side of energy economics. The empirical studies offer explanations for the impact of monetary policy on crude oil prices in different periods including during the subprime mortgage crisis of 2008–2009, the impact of oil price variations on developed and emerging economies, the effectiveness of monetary policy in the Japanese economy incorporating energy prices, and the macroeconomic impacts of oil price movements in trade-linked cases. This must-know information on energy economics is presented in a reader-friendly format without being overloaded with excessive and complicated calculations. enUsed="false" QFormat="true" Name="Subtle Emphasis"/>
Author : A. Khalik Salman
Publisher : Routledge
ISBN 13 : 0429875371
Total Pages : 277 pages
Book Rating : 4.4/5 (298 download)
Download or read book A Macroeconomics Model and Stabilisation Policies for the OPEC Countries written by A. Khalik Salman and published by Routledge. This book was released on 2019-06-26 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this book focuses on the macroeconomics issues which directly affect OPEC countries, aiming to set them in the context of the overall development effort. The most extant theoretical and empirical aspects in macroeconomics are integrated smoothly with institutional issues and policy questions. The analysis is illustrated through examples to show how the theories relate to the real world, especially to ongoing debates on developing economies as well as debates that encompass both developing and OPEC and developed countries.
Author : Elkhan Richard Sadik-Zada
Publisher : Logos Verlag Berlin GmbH
ISBN 13 : 3832543422
Total Pages : 184 pages
Book Rating : 4.8/5 (325 download)
Download or read book Oil Abundance and Economic Growth written by Elkhan Richard Sadik-Zada and published by Logos Verlag Berlin GmbH. This book was released on 2016-11-07 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the role of oil abundance in economic growth. The major theoretical contribution of the analysis is the transformation of the rentier state theory into the language of mathematical economics. The mathematical formalization of the rentier state theory enables a more sophisticated analytical tool for the assessment of the role of nonrenewable resource revenues in economic growth and institutional dynamics. The embedding of the elements of a rentier state into the labor surplus economy framework leads to grave consequences as reflected in the quantitative part of the survey. The augmented labor surplus economy model shows that both the political economy and the purely economic causes of the resource curse can have similar effects on the resource allocation in the affected nation. Hence, it is not possible to use econometric tools to compartmentalize the effects of the Dutch disease and those explanations based upon political economy. This is the reason why one can only estimate the total growth effects of oil revenues. Besides cross-country panel estimations, a case study of Azerbaijan provides additional insights into petroleum based economic development. These international panel and country specific estimations are partly based on the two sector model of economic growth. In the case of Azerbaijan, a vector error correction model, which is based upon the behavioral model of the equilibrium exchange rate, is applied to detect the Dutch disease tendencies.
Author : Jordi Galí
Publisher : University of Chicago Press
ISBN 13 : 0226278875
Total Pages : 663 pages
Book Rating : 4.2/5 (262 download)
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.
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1475572360
Total Pages : 30 pages
Book Rating : 4.4/5 (755 download)
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.
Author : Karl Seeley
Publisher : Springer
ISBN 13 : 3319517570
Total Pages : 384 pages
Book Rating : 4.3/5 (195 download)
Download or read book Macroeconomics in Ecological Context written by Karl Seeley and published by Springer. This book was released on 2017-02-10 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: Natural resources have been a recurring subject of public interest, from the environmental awakening in and the oil crises of the later 20th century, to wide swings in oil prices and increased concern about climate change in the first decades of the 21st century. Standard macroeconomics books treat resources in passing, in an ad hoc manner, if at all. This text integrates resources into the model from the ground up, allowing a more logically consistent understanding of the economic effects of changed resource availability. But the underlying structure remains mostly traditional: a full-employment perspective on the long run and a Keynesian approach to business-cycle fluctuations. This provides an easier adaptation for instructors and gives students the tools to understand economic analysis done in a more conventional framework. The business-cycle material starts with a “natural history” of money to help students see the connections between social and physical phenomena.
Author : Fakhri J. Hasanov
Publisher : Springer Nature
ISBN 13 : 3031122755
Total Pages : 176 pages
Book Rating : 4.0/5 (311 download)
Download or read book A Macroeconometric Model for Saudi Arabia written by Fakhri J. Hasanov and published by Springer Nature. This book was released on 2023-01-01 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Open Access Brief presents the KAPSARC Global Energy Macroeconometric Model (KGEMM). KGEMM is a policy analysis tool for examining the impacts of domestic policy measures and global economic and energy shocks on the Kingdom of Saudi Arabia. The model has eight blocks (real sector, fiscal, monetary, external sector, price, labor and wages, energy, population, and age cohorts) that interact with each other to represent the Kingdom’s macroeconomy and energy linkages. It captures New Keynesian demand-side features anchored to medium-run equilibrium and long-run aggregate supply. It applies a cointegration and equilibrium correction modeling (ECM) methodology to time series data to estimate the model’s behavioral equations in the framework of Autometrics, a general-to-specific econometric modeling strategy. Hence, the model combines ‘theory-driven’ approach with ‘data-driven’ approach. The Brief begins with an introduction to the theoretical framework of the model and the KGEMM methodology and then walks the reader through the structure of the model and its behavioral equations. The book closes with simulations showing the application of the model. Providing a detailed introduction to a cutting-edge, robust predictive model, this Brief will be of great use to researchers and policymakers interested in macroeconomics, energy economics, econometrics, and more specifically, the economy of Saudi Arabia.
Author : Mr.Rabah Arezki
Publisher : International Monetary Fund
ISBN 13 : 1475577745
Total Pages : 30 pages
Book Rating : 4.4/5 (755 download)
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 2017-02-10 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.
Author : International Monetary Fund. Strategy, Policy, & Review Department
Publisher : International Monetary Fund
ISBN 13 : 1498339999
Total Pages : 56 pages
Book Rating : 4.4/5 (983 download)
Download or read book Macroeconomic Policy Frameworks for Resource-Rich Developing Countries written by International Monetary Fund. Strategy, Policy, & Review Department and published by International Monetary Fund. This book was released on 2012-08-24 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper aims to widen the prism through which Fund policy analysis is conducted for resource-rich developing countries (RRDCs). While all resource-rich economies face resource revenue exhaustibility and volatility, RRDCs face additional challenges, including lack of access to international capital markets and domestic capital scarcity. Resource exhaustibility gives rise to inter-temporal decisions of how much of the resource wealth to consume and how much to save, and revenue volatility calls for appropriate fiscal rules and precautionary savings. Under certain conditions, it would be optimal for a significant share of a RRDC’s savings to be in domestic real assets (e.g., investment in domestic infrastructure), though absorptive capacity constraints need to be tackled to promote efficient spending and short-run policies are needed to preserve macroeconomic stability. The objective of this paper is to develop new macro-fiscal frameworks and policy analysis tools for RRDCs that could enhance Fund policy advice.
Author : Centre for Economic Policy Research (Great Britain)
Publisher : Cambridge, Mass. : MIT Press
ISBN 13 :
Total Pages : 376 pages
Book Rating : 4.F/5 ( download)
Download or read book Natural Resources and the Macroeconomy written by Centre for Economic Policy Research (Great Britain) and published by Cambridge, Mass. : MIT Press. This book was released on 1986 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: These contributions bring both theoretical models and case studies to bear on the consequences of natural resource discoveries in developed and developing countries. Whether it is natural gas in the Netherlands, oil in the UK, Norway, or Mexico, or minerals in Australia, these discoveries have been accused of causing severe structural problems, which have been given the name "Dutch Disease." Although a sizeable literature dealing with various aspects of the Dutch Disease has now developed, this is the first attempt to confront theory with evidence. Natural Resources and the Macroeconomycontains contributions by such scholars as Alan Gelb, Ricardo Martin, Kadir R. Yurukoglu, and Shahid A. Chaudhry (all at the World Bank); Jeroen J. M. Kremers (Oxford University); Julie Aklaksen and Olav Bjerkholt (Central Bureau of Statistics, Oslo); Lance Taylor (MIT); William Branson (Princeton); Partha Dasgupta (University of Cambridge); and Ronald Jones (University of Rochester). The editors, J. Peter Neary (University College, Dublin) and Sweder Van Wijnbergen (World Bank) have written the opening chapter, Natural Resources and the Macroeconomy: A Theoretical Framework. Other topics include: Adjustment to Windfall Gains: A Comparative Analysis of Oil Exporting Countries; Government and the Dutch Disease in the Netherlands; Policy Analysis of Shadow Pricing, Foreign Borrowing, and Resource Extraction in Egypt; Certainty Equivalent Procedures in the Macroeconomic Planning of an Oil Economy: The Case of Norway; A Macro Model of an Oil Exporter: Nigeria; Commodity Export Prices and the Real Exchange Rate in Columbia: The Money-Inflation Link; Booming Sectors and Structural Change in Australia and Britain; Indonesia's Other Dutch Disease: Economic Effects of the Petroleum Boom. The book concludes with a roundtable discussion which illustrates the divergent views among economists of the consequences of natural resource booms and the appropriate policies which should be adopted toward them. The book is based on a conference held in June 1985 by the Centre for Economic Policy Research in London.
Author : Homa Motamen-Scobie
Publisher : Heinemann Educational Publishers
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.3/5 (91 download)
Download or read book Macroeconomics of North Sea Oil in the United Kingdom written by Homa Motamen-Scobie and published by Heinemann Educational Publishers. This book was released on 1983 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Rabah Arezki
Publisher :
ISBN 13 :
Total Pages : 31 pages
Book Rating : 4.:/5 (115 download)
Download or read book Oil Prices and the Global Economy written by Rabah Arezki and published by . This book was released on 2017 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : O. Bjerkholt
Publisher : Springer
ISBN 13 :
Total Pages : 336 pages
Book Rating : 4.3/5 (512 download)
Download or read book Macroeconomic Prospects for a Small Oil Exporting Country written by O. Bjerkholt and published by Springer. This book was released on 1985-07-31 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Ivan Tchakarov
Publisher : International Monetary Fund
ISBN 13 : 9781589063754
Total Pages : 40 pages
Book Rating : 4.0/5 (637 download)
Download or read book GEM written by Mr.Ivan Tchakarov and published by International Monetary Fund. This book was released on 2004-11-30 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two years, the IMF staff has been developing a new multicountry macroeconomic model called the Global Economy Model (GEM). This paper explains why such a model is needed, how GEM differs from its predecessor model, and how the new features of the model can improve the IMF’s policy analysis. The paper is aimed at a general audience and avoids technical detail. It outlines the motivation, structure, strengths, and limitations of the model; examines three simulation exercises that have been completed; and discusses the future path of GEM.
Author : David Andrew Kendrick
Publisher : Springer
ISBN 13 : 9024735939
Total Pages : 148 pages
Book Rating : 4.0/5 (247 download)
Download or read book Feedback written by David Andrew Kendrick and published by Springer. This book was released on 1988-02-29 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the past fifteen years a new field of research has emerged in economics: the application of control theory methods to macroeconomics and to microeconomics. The papers and books which have resulted from this research are important to the development of theoretical and applied economics. However, they are inaccessible to many with interest in economics because of the technical nature of the discussion. This book attempts to make the macro economic portion of this literature more accessible by providing a discussion of the key issues using words and figures rather than mathematical symbols. I would like to thank my mentors and colleagues in control theory and economics for their help over the years: Masanao Aoki, Michael Athans, Yaakov Bar-Shalom, Jeremy Bray, Arthur Bryson, Gregory Chow, Ray Fair, Laurie Henrikson, David Livesey, Raman Mehra, Alfred Norman, Robert Pindyck, Franklin Shupp, John Taylor, Lance Taylor, Peter Tinsley, Edison Tse, and Stephen Turnovsky.
