1.

Record Nr.

UNINA9910464260503321

Autore

Husain Aasim M

Titolo

Fiscal policy and economic cycles in oil-exporting countries / / Aasim M. Husain, Kamilya Tazhibayeva, and Anna Ter-Martirosyan

Pubbl/distr/stampa

[Washington, District of Columbia] : , : International Monetary Fund, , 2008

©2008

ISBN

1-4623-4670-7

1-4527-9851-6

9786612842047

1-282-84204-8

1-4518-7111-2

Descrizione fisica

1 online resource (23 p.)

Collana

IMF Working Papers

IMF working paper ; ; WP/08/253

Altri autori (Persone)

TazhibayevaKamilya

Ter-MartirosyanAnna

Disciplina

336.3015195

Soggetti

Fiscal policy - Econometric models

Business cycles - Econometric models

Petroleum industry and trade - Econometric models

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references.

Nota di contenuto

Contents; I. Introduction; II. Data and Cyclical Properties; III. Oil Prices, Output Cycles, and Fiscal Policy; IV. Panel VAR Framework; V. Sensitivity Checks and Extensions; VI. Conclusions; References; Appendixes; A. Data Sources and Descriptions; B. Unit Root Tests

Sommario/riassunto

This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes affect the economic cycle only through their impact on fiscal policy. Once fiscal policy changes are removed, oil price shocks do not have a significant independent effect on the economic cycle.