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02152cas a2200277 a 4500 |
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|c 5.00 USD
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|z 9781475597158
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Cashin, Paul.
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|a The Differential Effects of Oil Demand and Supply Shocks on the Global Economy /
|c Paul Cashin, Kamiar Mohaddes, Mehdi Raissi, Maziar Raissi.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (41 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2-2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic effects for different countries. The results indicate that the economic consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic activity, and vary for oil-importing countries compared to energy exporters. While oil importers typically face a long-lived fall in economic activity in response to a supply-driven surge in oil prices, the impact is positive for energy-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in our sample experience long-run inflationary pressures and a short-run increase in real output.
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|a Mode of access: Internet
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|a Mohaddes, Kamiar.
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|a Raissi, Maziar.
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|a Raissi, Mehdi.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/253
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/253/001.2012.issue-253-en.xml
|z IMF e-Library
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