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|c 5.00 USD
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|z 9781475586640
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|a 1018-5941
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|a BD-DhAAL
|c BD-DhAAL
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|a Kumhof, Michael.
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|a Oil and the World Economy :
|b Some Possible Futures /
|c Michael Kumhof, Dirk Muir.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2012.
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|a 1 online resource (31 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 This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But for larger shocks, for elasticities of substitution that decline as oil usage is reduced to a minimum, and for production functions in which oil acts as a critical enabler of technologies, GDP growth could drop significantly. Also, oil prices could become so high that smooth adjustment, as assumed in the model, may become very difficult.
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|a Mode of access: Internet
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|a Muir, Dirk.
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|a IMF Working Papers; Working Paper ;
|v No. 2012/256
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2012/256/001.2012.issue-256-en.xml
|z IMF e-Library
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