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Author : Karen H. Johnson
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 ( download)
Download or read book The impact of an oil price increase on aggregate supply written by Karen H. Johnson and published by . This book was released on 1981 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : In June Kim
Publisher :
ISBN 13 :
Total Pages : 326 pages
Book Rating : 4.F/5 ( download)
Download or read book The Impact of Increase in Oil Price on the Growth Rate of Output and Inflation written by In June Kim and published by . This book was released on 1979 with total page 326 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr. Kangni R Kpodar
Publisher : International Monetary Fund
ISBN 13 : 1616356154
Total Pages : 34 pages
Book Rating : 4.6/5 (163 download)
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.
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 : Lars Matthiessen
Publisher : Springer
ISBN 13 : 1349063614
Total Pages : 217 pages
Book Rating : 4.3/5 (49 download)
Download or read book The Impact of Rising Oil Prices on the World Economy written by Lars Matthiessen and published by Springer. This book was released on 1982-06-18 with total page 217 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Yash P. Mehra
Publisher : DIANE Publishing
ISBN 13 : 143790498X
Total Pages : 20 pages
Book Rating : 4.4/5 (379 download)
Download or read book Oil Prices and Consumer Spending written by Yash P. Mehra and published by DIANE Publishing. This book was released on 2008-10 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: Empirical evidence suggests that oil price increases have a negative effect on spending whereas oil price declines have no effect. The estimated negative effect of an oil price increase on spending is larger if we focus on oil price increases that occur after a period of stable oil prices (net oil price increases), or if spending includes durables, the latter suggesting the possible negative influence of energy prices on the purchase of big-ticket consumption goods. Furthermore, the estimated oil price coefficients in the consumption equation do not show parameter instability during the 1980s, the period when oil prices moved widely for the first time in both directions. Charts and tables.
Author : H.G. Huntington
Publisher : Elsevier
ISBN 13 : 1483295451
Total Pages : 350 pages
Book Rating : 4.4/5 (832 download)
Download or read book Macroeconomic Impacts of Energy Shocks written by H.G. Huntington and published by Elsevier. This book was released on 2016-10-19 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Large-scale macroeconomic models have been used extensively to analyze a wide range of important economic issues. They were originally developed to study the economy's response to monetary and fiscal policies. During the 1970s these models were expanded and revised to track the inflationary processes and to incorporate key energy variables so that they could be used to examine the impacts of energy price shocks.This study compares the responses of 14 prominent macroeconomic models to supply-side shocks in the form of sudden energy price increases or decreases and to policies for lessening the impacts of price jumps. Four energy price shocks were examined: oil price increases of 50 and 20 percent, an oil price reduction of 20 percent, and an 80 percent increase in domestic natural gas prices. Five policy responses were considered for offsetting the GNP impacts of the larger oil price increase: monetary accommodation, an income tax rate reduction, an increase in the investment tax credit for equipment, a reduction in the employer's payroll tax rate, and an oil stockpile release.The study was conducted by a working group comprised of about 40 modelers and potential model users from universities, business, and government. As in previous EMF studies, the group pursued two broad goals. Firstly, they sought to understand the models themselves by identifying important similarities as well as structural differences. Secondly, they sought to use the models to sharpen their understanding of energy shocks and of the related policy issues. Their conclusions appear as the first chapter in this volume, the remaining chapters providing more technical treatment of the key structural differences among the participating models as well as their use for evaluating energy policies.This volume is addressed particularly to those interested in the energy shock issue, as well as to those with a broader interest in macroeconomic models and policies.
Author : Mr.Eswar Prasad
Publisher : International Monetary Fund
ISBN 13 : 1451845510
Total Pages : 37 pages
Book Rating : 4.4/5 (518 download)
Download or read book The Employment and Wage Effects of Oil Price Changes written by Mr.Eswar Prasad and published by International Monetary Fund. This book was released on 1995-04-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper, we use micro panel data to examine the effects of oil price changes on employment and real wages, at the aggregate and industry levels. We also measure differences in the employment and wage responses for workers differentiated on the basis of skill level. We find that oil price increases result in a substantial decline in real wages for all workers, but raise the relative wage of skilled workers. The use of panel data econometric techniques to control for unobserved heterogeneity is essential to uncover this result, which is completely hidden in OLS estimates. We find that changes in oil prices induce changes in employment shares and relative wages across industries. However, we find little evidence that oil price changes cause labor to consistently flow into those sectors with relative wage increases.
Author : Nadine Pahl
Publisher : GRIN Verlag
ISBN 13 : 3640297687
Total Pages : 78 pages
Book Rating : 4.6/5 (42 download)
Download or read book Oil Price Developments – Drivers, Economic Consequences and Policy Responses written by Nadine Pahl and published by GRIN Verlag. This book was released on 2009-03-27 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2007 in the subject Business economics - Economic Policy, grade: 1,0, University of Applied Sciences Berlin, course: General Economics, language: English, abstract: Oil prices are an important determinant of global economic performance. Crude Oil prices ranged between $2.50/bbl and $3.00/bbl from 1948 through the end of the 1960s. As of this day, the price for crude oil is $89.82/bbl. In general, spikes in oil prices are not unusual and are, to some extent, symptomatic of a gradual upward trend in daily oil price volatility. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. But especially within the last few years, the oil price has continuously increased sharply – and to some extent unexpected. This recent sharp increase in the oil price prompts several questions: Why have oil prices risen? What is the impact on the global economy and on individual countries? How do oil importing countries cope with the higher prices? What are appropriate policy responses to stabilise the economy in face of high oil prices? And last but not least, what role does the Organisation of Petroleum Exporting Countries really play? To begin with, there is no doubt that the recent increase in oil price is mainly demand driven, combined with historically low excess capacity and heightened concerns about supply disruptions. And even without macroeconomic knowledge, everyone is aware that higher oil prices affect the economy as a whole and all its market participants. In the following, this paper analyses in detail the current main oil price drivers, their economic consequences and the possible policy responses - always framed by the volatility and uncertainty that characterise the oil market.
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 : Nadine Pahl
Publisher : GRIN Verlag
ISBN 13 : 3640303040
Total Pages : 85 pages
Book Rating : 4.6/5 (43 download)
Download or read book Oil Price Developments - Drivers, Economic Consequences and Policy Responses written by Nadine Pahl and published by GRIN Verlag. This book was released on 2009-04-16 with total page 85 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (undergraduate) from the year 2007 in the subject Business economics - Economic Policy, grade: 1,0, University of Applied Sciences Berlin, course: General Economics, language: English, abstract: Oil prices are an important determinant of global economic performance. Crude Oil prices ranged between $2.50/bbl and $3.00/bbl from 1948 through the end of the 1960s. As of this day, the price for crude oil is $89.82/bbl. In general, spikes in oil prices are not unusual and are, to some extent, symptomatic of a gradual upward trend in daily oil price volatility. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have large effects on price. But especially within the last few years, the oil price has continuously increased sharply - and to some extent unexpected. This recent sharp increase in the oil price prompts several questions: Why have oil prices risen? What is the impact on the global economy and on individual countries? How do oil importing countries cope with the higher prices? What are appropriate policy responses to stabilise the economy in face of high oil prices? And last but not least, what role does the Organisation of Petroleum Exporting Countries really play? To begin with, there is no doubt that the recent increase in oil price is mainly demand driven, combined with historically low excess capacity and heightened concerns about supply disruptions. And even without macroeconomic knowledge, everyone is aware that higher oil prices affect the economy as a whole and all its market participants. In the following, this paper analyses in detail the current main oil price drivers, their economic consequences and the possible policy responses - always framed by the volatility and uncertainty that characterise the oil market.
Author : Stephen Paul Adolph Brown
Publisher :
ISBN 13 :
Total Pages : 42 pages
Book Rating : 4.3/5 (91 download)
Download or read book Energy Prices and Aggregate Economic Activity written by Stephen Paul Adolph Brown and published by . This book was released on 2001 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Deren Unalmis
Publisher : International Monetary Fund
ISBN 13 : 1451874308
Total Pages : 30 pages
Book Rating : 4.4/5 (518 download)
Download or read book On the Sources of Oil Price Fluctuations written by Deren Unalmis and published by International Monetary Fund. This book was released on 2009-12-01 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE framework. It models a small open economy and the rest of the world together to discover both accompanying effects of oil price changes and their international transmission mechanisms. Our results indicate that different sources of oil price fluctuations bring remarkably diverse outcomes for both economies.
Author : Stanford University. Energy Modeling Forum
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.F/5 ( download)
Download or read book Occasional Paper written by Stanford University. Energy Modeling Forum and published by . This book was released on 1984 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alan S. Blinder
Publisher : Elsevier
ISBN 13 : 1483264564
Total Pages : 244 pages
Book Rating : 4.4/5 (832 download)
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.
Author : Edward R. Fried
Publisher : Washington : Brookings Institution
ISBN 13 :
Total Pages : 312 pages
Book Rating : 4.F/5 ( download)
Download or read book Higher Oil Prices and the World Economy written by Edward R. Fried and published by Washington : Brookings Institution. This book was released on 1975 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nine economists examine the effect of quadrupled oil prices on the world economy, weigh the merits of the various monetary and fiscal policies adapted in response, and explore how the adjustment problem is likely to change in the future.
Author : James Douglas Hamilton
Publisher :
ISBN 13 :
Total Pages : 530 pages
Book Rating : 4.:/5 (29 download)
Download or read book The Macroeconomic Effect of Petroleum Supply Disruptions written by James Douglas Hamilton and published by . This book was released on 1983 with total page 530 pages. Available in PDF, EPUB and Kindle. Book excerpt:
