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Author : Edward R. Fried
Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.:/5 (64 download)
Download or read book Higher Oil Prices and the World Economy written by Edward R. Fried and published by . This book was released on 1975 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : 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 : 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 : United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.0/5 ( download)
Download or read book Crude Oil written by United States. Congress. Senate. Committee on the Judiciary. Subcommittee on Antitrust, Competition Policy, and Consumer Rights and published by . This book was released on 2004 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 : Humberto Lopez
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 23 pages
Book Rating : 4./5 ( download)
Download or read book oil intensities and oil prices: evidence for latin america written by Humberto Lopez and published by World Bank Publications. This book was released on 2008 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption, it would be possible to argue that not all the effects of a price increase are negative. Climate change concerns have been on the rise in recent years and fossil fuel consumption is generally viewed as one of the main causes behind it. Thus this paper explores whether higher oil prices contribute to lowering oil intensities (that is, oil consumption per unit of gross domestic product). The findings show that following an increase in oil prices, OECD countries tend to reduce oil intensity. However, the same result does not hold for Latin America (and more generally for middle-income countries) where oil intensities appear to be unaffected by oil prices. The paper also explores why this is so.
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 : Kenneth L. Kincel
Publisher :
ISBN 13 :
Total Pages : 92 pages
Book Rating : 4.:/5 (318 download)
Download or read book An Evaluation of Future World Oil Prices written by Kenneth L. Kincel and published by . This book was released on 1978 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Robert McNally
Publisher : Columbia University Press
ISBN 13 : 0231543689
Total Pages : 336 pages
Book Rating : 4.2/5 (315 download)
Download or read book Crude Volatility written by Robert McNally and published by Columbia University Press. This book was released on 2017-01-17 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.
Author : Mr.Aasim M. Husain
Publisher : International Monetary Fund
ISBN 13 : 151357227X
Total Pages : 41 pages
Book Rating : 4.5/5 (135 download)
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.
Author : Cyn-Young Park
Publisher : DIANE Publishing
ISBN 13 : 1437907504
Total Pages : 15 pages
Book Rating : 4.4/5 (379 download)
Download or read book Higher Oil Prices written by Cyn-Young Park and published by DIANE Publishing. This book was released on 2004 with total page 15 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Roberto F. Aguilera
Publisher : Cambridge University Press
ISBN 13 : 1107110017
Total Pages : 253 pages
Book Rating : 4.1/5 (71 download)
Download or read book The Price of Oil written by Roberto F. Aguilera and published by Cambridge University Press. This book was released on 2016 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains why oil prices rose so spectacularly in the past and examines how they will be suppressed in the future.
Author :
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Coping With High Oil Prices written by and published by . This book was released on 2000 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Owing to a tightness in crude oil supply and accelerated drawdown of oil inventories, the price of home heating oil in the Northeast and diesel fuel rose sharply during the winter of 1999-2000. Gasoline prices soon followed. In the weeks prior to a scheduled late March meeting in Vienna, some Organization of Petroleum Exporting Countries (OPEC) producers indicated an inclination to raise production, but there was no firm consensus how much they might be inclined to boost it, or what the schedule for these increases would be. In the meantime, concerns were raised that additional production might reach markets too late to ward off even higher prices for gasoline in the spring and summer. The Clinton Administration resisted any high profile intervention that would affect prices, preferring instead to try to persuade OPEC to agree to raise the oil production targets that had been agreed to in March 1999. Secretary of Energy Richardson met with a number of oil ministers in late February and March 2000, indicating that producing nations were recognizing the jeopardy to the world economy of prolonged high prices and volatility. On March 28, 2000, OPEC agreed to boost production. While some expect production worldwide to increase roughly 2.0 million barrels daily as a result, many continue to press for action from Congress and the Administration that would provide some relief from high prices, and forestall a similar doubling in fuel prices in the future. Among these have been: lifting a portion of the federal excise tax on gasoline - or all of it, if the price exceeds a specified threshold (S. 2285, H.R. 3749, H.R. 4111); assistance to domestic producers, and reconsideration of opening up the Arctic National Wildlife Refuge (ANWR) to leasing; legislation to impose sanctions on nations determined by the President to be engaged in oil price fixing (H.R. 3822); sanctions language was dropped before House passage, March 22 (382-38); drawdown, or a ''swap'' of oil from the Strategic Petroleum Reserve (SPR), an option which the Administration has strongly resisted; establishment of a regional reserve of home heating oil (S. 2047, H.R. 3608), endorsed by the President on March 18, 2000, and passed by the House on April 12, 2000, in H.R. 2884; approving an additional $600 million in emergency funds (H.R. 3908) for the Low Income Home Energy Assistance Program (LIHEAP). Some argue that intervention in markets to affect prices is unwarranted in the present situation, and that high prices are temporary and are, in the meantime, attracting product to where it is needed.
Author : Basil Oberholzer
Publisher : Edward Elgar Publishing
ISBN 13 : 1786437899
Total Pages : 389 pages
Book Rating : 4.7/5 (864 download)
Download or read book Monetary Policy and Crude Oil written by Basil Oberholzer and published by Edward Elgar Publishing. This book was released on 2017-07-28 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the exceptional conduct of monetary policy. This book investigates the impacts of monetary policy and the financial system on the global crude oil market. Furthermore, it outlines how monetary policy may also be used to guarantee stability and to contribute to ecological sustainability.
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 : United States. Congress. House. Committee on Banking and Currency. Ad Hoc Committee on the Domestic and International Monetary Effect of Energy and Other Natural Resource Pricing
Publisher :
ISBN 13 :
Total Pages : 82 pages
Book Rating : 4.3/5 (91 download)
Download or read book Balance-of-payments Adjustment to Higher Oil Prices written by United States. Congress. House. Committee on Banking and Currency. Ad Hoc Committee on the Domestic and International Monetary Effect of Energy and Other Natural Resource Pricing and published by . This book was released on 1975 with total page 82 pages. Available in PDF, EPUB and Kindle. Book excerpt:
