Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Petroleum industry and trade
Languages : en
Pages : 68
Book Description
Oil Supply Disruptions
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Petroleum industry and trade
Languages : en
Pages : 68
Book Description
Publisher:
ISBN:
Category : Petroleum industry and trade
Languages : en
Pages : 68
Book Description
Government Responses to Oil Supply Disruptions
Author: United States. Congress. Senate. Committee on Energy and Natural Resources
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 904
Book Description
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 904
Book Description
Benefits and Limitations of Economic Policy Responses to an Oil Supply Disruption
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 40
Book Description
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 40
Book Description
Oil Prices and the Global Economy
Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
ISBN: 1475572360
Category : Business & Economics
Languages : en
Pages : 30
Book Description
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.
Publisher: International Monetary Fund
ISBN: 1475572360
Category : Business & Economics
Languages : en
Pages : 30
Book Description
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.
Standby Revenue Recycling Authority to Deal with Petroleum Supply Disruptions
Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Energy and Agricultural Taxation
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 204
Book Description
Publisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 204
Book Description
The Distributional Implications of the Impact of Fuel Price Increases on Inflation
Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
Book Description
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.
Publisher: International Monetary Fund
ISBN: 1616356154
Category : Business & Economics
Languages : en
Pages : 34
Book Description
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.
International Dimensions of Monetary Policy
Author: Jordi Galí
Publisher: University of Chicago Press
ISBN: 0226278875
Category : Business & Economics
Languages : en
Pages : 663
Book Description
United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
Publisher: University of Chicago Press
ISBN: 0226278875
Category : Business & Economics
Languages : en
Pages : 663
Book Description
United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
The United States Remains Unprepared for Oil Import Disruptions
Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 224
Book Description
GAO examined the Federal Government's ability to cope with oil import disruptions, reported on the adequacy of the Department of Energy's (DOE) current contingency programs and organization for dealing with oil shortages, and suggested ways to strengthen the Nation's energy emergency preparedness. In order to examine present emergency preparedness, GAO examined emergency programs for quickly increasing oil supplies, substituting other fuels for oil, restraining oil demand, and allocating short supplies both nationally and internationally. GAO also analyzed the contingency programs provided by the Emergency Petroleum Allocation Act since Congress might choose to renew or otherwise extend the authority of one or more of those programs. With the exception of the recent buildup of the Strategic Petroleum Reserve (SPR), the United States is no better prepared to deal with significant disruptions in oil imports than it was during the 1973 oil embargo. The Nation's almost total lack of emergency preparedness requires immediate attention. GAO found that the Nation is grossly unprepared to cope with a large shortfall because: (1) no plan has been prepared for emergency surge oil production; (2) there is no adequate plan for using SPR; (3) the Government has no plans for managing private oil stock drawdown; (4) both crude oil and petroleum product allocation programs are in disarray; (5) Federal and State plans for restraining oil demand are totally inadequate; (6) emergency oil reserves both here and in other industrialized countries are not adequate; and (7) the international oil sharing mechanism is too narrowly focused and may not work effectively. Government energy supply programs should be developed before any shortages occur so that government at all levels will not have to enact measures in the confusion and political pressures generated by a disruption of supplies. Programs are needed which: will yield significant benefits when applied, are fully developed and kept ready for use, can be implemented in a timely manner, can coordinate the actions of the public and private sectors, can be enforced, and are fully tested before use.
Publisher:
ISBN:
Category : Energy consumption
Languages : en
Pages : 224
Book Description
GAO examined the Federal Government's ability to cope with oil import disruptions, reported on the adequacy of the Department of Energy's (DOE) current contingency programs and organization for dealing with oil shortages, and suggested ways to strengthen the Nation's energy emergency preparedness. In order to examine present emergency preparedness, GAO examined emergency programs for quickly increasing oil supplies, substituting other fuels for oil, restraining oil demand, and allocating short supplies both nationally and internationally. GAO also analyzed the contingency programs provided by the Emergency Petroleum Allocation Act since Congress might choose to renew or otherwise extend the authority of one or more of those programs. With the exception of the recent buildup of the Strategic Petroleum Reserve (SPR), the United States is no better prepared to deal with significant disruptions in oil imports than it was during the 1973 oil embargo. The Nation's almost total lack of emergency preparedness requires immediate attention. GAO found that the Nation is grossly unprepared to cope with a large shortfall because: (1) no plan has been prepared for emergency surge oil production; (2) there is no adequate plan for using SPR; (3) the Government has no plans for managing private oil stock drawdown; (4) both crude oil and petroleum product allocation programs are in disarray; (5) Federal and State plans for restraining oil demand are totally inadequate; (6) emergency oil reserves both here and in other industrialized countries are not adequate; and (7) the international oil sharing mechanism is too narrowly focused and may not work effectively. Government energy supply programs should be developed before any shortages occur so that government at all levels will not have to enact measures in the confusion and political pressures generated by a disruption of supplies. Programs are needed which: will yield significant benefits when applied, are fully developed and kept ready for use, can be implemented in a timely manner, can coordinate the actions of the public and private sectors, can be enforced, and are fully tested before use.
Drivers of Oil Prices: The Usefulness and Limitations of Non- Structural Model, the Demand-Supply Framework and Informal Approaches
Author: Bassam Fattouh
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Book Description
Oil Supply Distribution in the 1980s: An Economic Analysis
Author: Karim Pakravan
Publisher: Hoover Press
ISBN: 9780817979034
Category : Petroleum industry and trade
Languages : en
Pages : 108
Book Description
Publisher: Hoover Press
ISBN: 9780817979034
Category : Petroleum industry and trade
Languages : en
Pages : 108
Book Description