Asymmetric Non-Commodity Output Responses to Commodity Price Shocks /

Asymmetric Non-Commodity Output Responses to Commodity Price Shocks /

This paper focuses on identifying potential asymmetric responses of non-commodity output growth in times of positive and negative commodity terms-of-trade shocks. Using a sample of 27 oil-exporting countries and a panel VAR method, the study finds: 1) the short-and medium-run response of real non-co...

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Bibliografske podrobnosti
Glavni avtor: Mati, Amine
Drugi avtorji: Newiak, Monique, Wilson, James
Format: Revija
Jezik:English
Izdano: Washington, D.C. : International Monetary Fund, 2021.
Serija:IMF Working Papers; Working Paper ; No. 2021/163
Teme:
Commodity Markets
Foreign Exchange
Informal Economy
Price Level
Underground Econom
Online dostop:Full text available on IMF
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020 |z 9781513573359 
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100 1 |a Mati, Amine. 
245 1 0 |a Asymmetric Non-Commodity Output Responses to Commodity Price Shocks /  |c Amine Mati, Monique Newiak, James Wilson. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2021. 
300 |a 1 online resource (38 pages) 
490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper focuses on identifying potential asymmetric responses of non-commodity output growth in times of positive and negative commodity terms-of-trade shocks. Using a sample of 27 oil-exporting countries and a panel VAR method, the study finds: 1) the short-and medium-run response of real non-commodity GDP growth is larger for negative shocks than positive shocks; 2) this asymmetry is more pronounced in countries with weak pre-existing fundamentals-high levels of public debt and low levels of international reserves-which also serve to amplify the volatility of the response; 3) the output response to positive shocks is stronger following a sustained period of CTOT increases, while the impact of negative shocks on output are more damaging when they occur after a period of CTOT decline. 
538 |a Mode of access: Internet 
650 7 |a Commodity Markets  |2 imf 
650 7 |a Foreign Exchange  |2 imf 
650 7 |a Informal Economy  |2 imf 
650 7 |a Price Level  |2 imf 
650 7 |a Underground Econom  |2 imf 
700 1 |a Newiak, Monique. 
700 1 |a Wilson, James. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2021/163 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2021/163/001.2021.issue-163-en.xml  |z IMF e-Library 

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