On the Sources of Oil Price Fluctuations

This book PDF is perfect for those who love Business & Economics genre, written by Deren Unalmis and published by International Monetary Fund which was released on 01 December 2009 with total hardcover pages 30. You could read this book directly on your devices with pdf, epub and kindle format, check detail and related On the Sources of Oil Price Fluctuations books below.

On the Sources of Oil Price Fluctuations
On the Sources of Oil Price Fluctuations
Author : Deren Unalmis
File Size : 44,5 Mb
Publisher : International Monetary Fund
Language : English
Release Date : 01 December 2009
ISBN : 9781451874303
Pages : 30 pages
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On the Sources of Oil Price Fluctuations by Deren Unalmis Book PDF Summary

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE framework. It models a small open economy and the rest of the world together to discover both accompanying effects of oil price changes and their international transmission mechanisms. Our results indicate that different sources of oil price fluctuations bring remarkably diverse outcomes for both economies.

On the Sources of Oil Price Fluctuations

On the Sources of Oil Price Fluctuations by Deren Unalmis,Ibrahim Unalmis,Ms.Filiz Unsal

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks

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On the Sources and Consequences of Oil Price Shocks

On the Sources and Consequences of Oil Price Shocks by Deren Unalmis,Ibrahim Unalmis,Ms.Filiz Unsal

Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of a (speculative) storage demand shock and to assess how the effects

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Oil Prices and the Global Economy

Oil Prices and the Global Economy by Mr.Rabah Arezki,Zoltan Jakab,Mr.Douglas Laxton,Mr.Akito Matsumoto,Armen Nurbekyan,Hou Wang,Jiaxiong Yao

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

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Measuring Oil Price Shocks Using Market Based Information

Measuring Oil Price Shocks Using Market Based Information by Mr.Tao Wu,Mr.Michele Cavallo

We study the effects of oil-price shocks on the U.S. economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, we classify them into various event types. We then develop measures of exogenous shocks that avoid endogeneity and predictability concerns. Estimation results indicate that oil-price shocks have

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Monetary Policy and the Oil Market

Monetary Policy and the Oil Market by Naoyuki Yoshino,Farhad Taghizadeh-Hesary

While oil price fluctuations in the past can be explained by pure supply factors, this book argues that it is monetary policy that plays a significant role in setting global oil prices. It is a key factor often neglected in much of the earlier literature on the determinants of asset

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Global Implications of Lower Oil Prices

Global Implications of Lower Oil Prices by Mr. Aasim M. Husain,Mr. Rabah Arezki,Mr. Peter Breuer,Mr. Vikram Haksar,Mr. Thomas Helbling,Paulo A. Medas,Martin Sommer

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 somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is

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Oil Price Volatility and the Role of Speculation

Oil Price Volatility and the Role of Speculation by Samya Beidas-Strom,Mr.Andrea Pescatori

How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be observationally

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Oil Prices and the Global Economy

Oil Prices and the Global Economy by Mr.Rabah Arezki,Zoltan Jakab,Mr.Douglas Laxton,Mr.Akito Matsumoto,Armen Nurbekyan,Hou Wang,Jiaxiong Yao

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

Get Book