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Author: Mr.Kamiar Mohaddes
Publisher: International Monetary Fund
ISBN: 1513513885
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining in commodity exporters, inflation falling in most countries, and equity prices rising worldwide. Overall, our results suggest that following the U.S. oil revolution, with oil prices falling by 51 percent in the first year, global growth increases by 0.16 to 0.37 percentage points. This is mainly due to an increase in spending by oil importing countries, which exceeds the decline in expenditure by oil exporters.
Author: Mr.Kamiar Mohaddes
Publisher: International Monetary Fund
ISBN: 1513513885
Category : Business & Economics
Languages : en
Pages : 35
Get Book Here
Book Description
This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining in commodity exporters, inflation falling in most countries, and equity prices rising worldwide. Overall, our results suggest that following the U.S. oil revolution, with oil prices falling by 51 percent in the first year, global growth increases by 0.16 to 0.37 percentage points. This is mainly due to an increase in spending by oil importing countries, which exceeds the decline in expenditure by oil exporters.
Author: Kamiar Mohaddes
Publisher:
ISBN: 9781513548098
Category : Economic development
Languages : en
Pages : 35
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Book Description
This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining in commodity exporters, inflation falling in most countries, and equity prices rising worldwide. Overall, our results suggest that following the U.S. oil revolution, with oil prices falling by 51 percent in the first year, global growth increases by 0.16 to 0.37 percentage points. This is mainly due to an increase in spending by oil importing countries, which exceeds the decline in expenditure by oil exporters. --Abstract.
Author: Mr.Kamiar Mohaddes
Publisher: International Monetary Fund
ISBN: 1513509845
Category : Business & Economics
Languages : en
Pages : 35
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Book Description
This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining in commodity exporters, inflation falling in most countries, and equity prices rising worldwide. Overall, our results suggest that following the U.S. oil revolution, with oil prices falling by 51 percent in the first year, global growth increases by 0.16 to 0.37 percentage points. This is mainly due to an increase in spending by oil importing countries, which exceeds the decline in expenditure by oil exporters.
Author: R. W. Ferrier
Publisher: Routledge
ISBN: 1317234960
Category : Business & Economics
Languages : en
Pages : 146
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Book Description
This book discusses the oil industry and its impact on the world economy in the twentieth century. It examines the importance of oil in different sectors, from 1900-1973 and stresses the relevance of oil as a factor in modern economic history not only in national terms but also within an international context. The book includes chapters on American policy towards developing economies in the first half of the 20th century; the policy of Russian oil exports in the 20s and 30s; the financing of the German and French oil industries; and the role of oil in the Japanese economy, a major industrial country without oil resources. On the international front, the book covers the impact of the Middle East national oil companies, the effect of oil on the developing countries of South Ameirca and the relevance of the oil crisis of 1973.
Author: Everett M. Ehrlich
Publisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 104
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Book Description
Author: Florentino Delanoy
Publisher:
ISBN:
Category :
Languages : en
Pages : 118
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Book Description
America's oil and natural gas industry supports 10.3 million jobs in the United States and nearly 8 percent of our nation's Gross Domestic Product. We spur economic growth through hundreds of billions of dollars investing right here at home every year. The extraction of oil and natural gas from shale has reduced the amount of oil the United States needs to import and is adding to the economy in the forms of jobs, investment, and growth. Oil exploration and production is again an important industry in the United States. The US has led the world in increasing oil supplies since 2008 and is projected to establish a new all-time record high oil production before 2020. Production from tight oil plays is projected to contribute about 5 MMb/d or more than 40% of US oil production by 2020. In this book, we will look at how oil prices impact the U.S. economy. Buy now.
Author: Shamika Balluch
Publisher:
ISBN:
Category :
Languages : en
Pages : 118
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Book Description
America's oil and natural gas industry supports 10.3 million jobs in the United States and nearly 8 percent of our nation's Gross Domestic Product. We spur economic growth through hundreds of billions of dollars investing right here at home every year. The extraction of oil and natural gas from shale has reduced the amount of oil the United States needs to import and is adding to the economy in the forms of jobs, investment, and growth. Oil exploration and production is again an important industry in the United States. The US has led the world in increasing oil supplies since 2008 and is projected to establish a new all-time record high oil production before 2020. Production from tight oil plays is projected to contribute about 5 MMb/d or more than 40% of US oil production by 2020. In this book, we will look at how oil prices impact the U.S. economy. Buy now.
Author: Peter R. Odell
Publisher: Routledge
ISBN: 1134101783
Category : Business & Economics
Languages : en
Pages : 291
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Book Description
The oil industry is the world’s largest commercial enterprise. Its extent is global; international issues are consistently influenced by considerations of oil production and consumption, while the international communications networks of the larger oil companies rival those of many nations. In this, the eighth edition of Oil and World Power, published in 1986, Peter Odell explains the complexities of this gigantic empire and its influence on the world. The far-reaching chapters discuss the U.S.A, the Soviet Union, O.P.E.C., Japan and the oil-consuming countries of the developing world. Evaluating the changing patterns of oil supply and the dramatic fall in oil prices in 1986, Odell proposes a number of forward-thinking conclusions surrounding the relationship between oil in global politics and economic development. This is an exceptionally interesting and relevant work, of great value to those with an interest in the oil industry, global power and international economic development.
Author: Peter R. Odell
Publisher: Routledge
ISBN: 1134101716
Category : Business & Economics
Languages : en
Pages : 317
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Book Description
The oil industry is the world’s largest commercial enterprise. Its extent is global; international issues are consistently influenced by considerations of oil production and consumption, while the international communications networks of the larger oil companies rival those of many nations. In this, the eighth edition of Oil and World Power, published in 1986, Peter Odell explains the complexities of this gigantic empire and its influence on the world. The far-reaching chapters discuss the U.S.A, the Soviet Union, O.P.E.C., Japan and the oil-consuming countries of the developing world. Evaluating the changing patterns of oil supply and the dramatic fall in oil prices in 1986, Odell proposes a number of forward-thinking conclusions surrounding the relationship between oil in global politics and economic development. This is an exceptionally interesting and relevant work, of great value to those with an interest in the oil industry, global power and international economic development.
Author: Steven A. Schneider
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 658
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Book Description
