Oil Shocks and External Balances

Released on by International Monetary Fund
preview-18

  • Oil Shocks and External Balances Book Detail

  • Author : International Monetary Fund
  • Release Date : 2007-05-01
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 41
  • ISBN 13 : 1451866747
  • File Size : 34,34 MB
DOWNLOAD BOOK

Oil Shocks and External Balances by International Monetary Fund PDF Summary

Book Description: This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries' external balance, including the oil and non-oil trade balances, the current account, and changes in net foreign assets (NFA) during 1975-2004. We explicitly take a global perspective. In addition to the U.S., the Euro area and Japan, we consider a number of country groups including oil exporters and middle-income oil-importing economies. We find that the effect of oil shocks on the merchandise trade balance and the current account, which depending on the source of the shock can be large, depends critically on the response of the nonoil trade balance, and differs systematically between the U.S. and other oil importing countries. Using the Lane-Milesi-Ferretti NFA data set, we document the presence of large and systematic (if not always statistically significant) valuation effects in response to oil shocks, not only for the U.S., but also for other oil-importing economies and for oil exporters. Our estimates suggest that increased international financial integration will tend to cushion the effect of oil shocks on NFA positions for major oil exporters and the U.S., but may amplify it for other oil importers.

Disclaimer: www.yourbookbest.com does not own Oil Shocks and External Balances books pdf, neither created or scanned. We just provide the link that is already available on the internet, public domain and in Google Drive. If any way it violates the law or has any issues, then kindly mail us via contact us page to request the removal of the link.

Oil Shocks and External Balances

Oil Shocks and External Balances

File Size : 41,41 MB
Total View : 4335 Views
DOWNLOAD

This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries' external balance, including the oil

Global Implications of Lower Oil Prices

Global Implications of Lower Oil Prices

File Size : 74,74 MB
Total View : 5571 Views
DOWNLOAD

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 s

News Shocks in Open Economies

News Shocks in Open Economies

File Size : 70,70 MB
Total View : 7350 Views
DOWNLOAD

This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly obser

Macroeconomics for Professionals

Macroeconomics for Professionals

File Size : 93,93 MB
Total View : 5641 Views
DOWNLOAD

Understanding macroeconomic developments and policies in the twenty-first century is daunting: policy-makers face the combined challenges of supporting economic