05465oam 22011654 450 991081715880332120200520144314.01-4623-2447-91-4518-7430-81-4527-4097-61-282-84472-59786612844720(CKB)3170000000055406(SSID)ssj0000943224(PQKBManifestationID)11484312(PQKBTitleCode)TC0000943224(PQKBWorkID)10977182(PQKB)11320080(OCoLC)671571349(IMF)WPIEE2009285(MiAaPQ)EBC1606014(IMF)WPIEA2009285(EXLCZ)99317000000005540620020129d2009 uf 0engurcn|||||||||txtccrOn the Sources of Oil Price Fluctuations /Deren Unalmis, Ibrahim Unalmis, Filiz Unsal1st ed.Washington, D.C. :International Monetary Fund,2009.28 p. illIMF Working PapersBibliographic Level Mode of Issuance: Monograph1-4519-1846-1 Includes bibliographical references.Intro -- Contents -- I. Introduction -- II. The Small Open Economy Model -- A. Households -- B. Firms -- C. Monetary and Fiscal Policy -- D. Equilibrium -- III. Rest of the World and the Oil Market -- A. Equilibrium in the Rest of the World -- B. Oil Market Equilibrium -- IV. Impulse Response Analysis -- A. Aggregate Demand Shocks -- B. Oil Supply Shock -- C. Precautionary Demand Shock -- V. Conclusions -- References -- Tables -- 1. Model in Log- Linearized Form: Behavioral Equations for SOE -- 2. Model in Log-Linearized Form: Behavioral Equations for the ROW and the Oil Market -- 3. Model in Log-Linearized Form: Parameters -- 4. Model in Log-Linearized Form: Exogenous Processes -- 5. Parameters Values Used in Calibration -- Appendix: Equilibrium Conditions -- A. Households and Goods Market Equilibrium in SOE -- B. Marginal Cost and Inflation Dynamics -- C. Rest of the World and Oil Market Equilibrium -- Appendix Figures -- 1. Impulse Responses to 1 Percent Labor Productivity Shock -- 2. Impulse Responses to 1 Percent Government Spending Shock -- 3. Impulse Responses to 10 Percent Negative Oil Supply Shock -- 4. Impulse Responses to 10 Percent Expected Negative Oil Supply Shock.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.IMF Working Papers; Working Paper ;No. 2009/285Petroleum productsPricesAccounting and price fluctuationsDeflationimfEnergy: Demand and SupplyimfEnergy: GeneralimfGovernment business enterprisesimfHuman CapitalimfInflationimfInvestment & securitiesimfInvestments: EnergyimfLabor ProductivityimfLabor productivityimfMacroeconomicsimfNationalizationimfNonprofit Organizations and Public Enterprise: GeneralimfOccupational ChoiceimfOil pricesimfOilimfPetroleum industry and tradeimfPrice LevelimfPricesimfProduction and Operations ManagementimfPublic enterprisesimfPublic ownershipimfSkillsimfPetroleum productsPrices.Accounting and price fluctuations.DeflationEnergy: Demand and SupplyEnergy: GeneralGovernment business enterprisesHuman CapitalInflationInvestment & securitiesInvestments: EnergyLabor ProductivityLabor productivityMacroeconomicsNationalizationNonprofit Organizations and Public Enterprise: GeneralOccupational ChoiceOil pricesOilPetroleum industry and tradePrice LevelPricesProduction and Operations ManagementPublic enterprisesPublic ownershipSkills339.53091724Unalmis Deren1623475Unalmis Ibrahim1623476Unsal Filiz1623477International Monetary Fund.DcWaIMFBOOK9910817158803321On the Sources of Oil Price Fluctuations4251079UNINA