01240nam0 2200289 i 450 SUN006305920140625025023.23820080226d1969 |0engc50 baengGB|||| |||||ˆA ‰selection of Greek historical inscriptions to the end of the fifth century B.C.edited by Russell Meiggs and David LewisOxfordClarendon1969XIX, 308 p.23 cm.GBOxfordSUNL00002093821Lewis, David M.SUNV010031Meiggs, RussellSUNV050093ClarendonSUNV000098650Lewis, David MalcomLewis, David M.SUNV058596Lewis, D. M.Lewis, David M.SUNV058597ITSOL20181109RICASUN0063059UFFICIO DI BIBLIOTECA DEL DIPARTIMENTO DI LETTERE E BENI CULTURALI07 CONS S 2030 07 4147 UFFICIO DI BIBLIOTECA DEL DIPARTIMENTO DI LETTERE E BENI CULTURALIIT-CE01034147CONS S 2030caSelection of Greek historical inscriptions to the end of the fifth century B.C284737UNICAMPANIA06370oam 22013694 450 991097389650332120250426110521.097816163570231616357029978147559843814755984329781283947794128394779X(CKB)2550000001003744(EBL)1607056(SSID)ssj0000943222(PQKBManifestationID)11515178(PQKBTitleCode)TC0000943222(PQKBWorkID)10977688(PQKB)10756566(Au-PeEL)EBL1607056(CaPaEBR)ebr10644356(CaONFJC)MIL426029(OCoLC)870245099(IMF)WPIEE2012270(IMF)WPIEA2012270(MiAaPQ)EBC1607056WPIEA2012270(EXLCZ)99255000000100374420020129d2012 uf 0engur|n|---|||||txtccrOn the Sources and Consequences of Oil Price Shocks : The Role of Storage /Deren Unalmis, Ibrahim Unalmis, Filiz Unsal1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (42 p.)IMF Working PapersIMF working paper ;WP/12/270At head of title: Research Department -- verso of t.p."November 2012"-- verso of t.p.9781475573565 1475573561 9781475586367 1475586361 Includes bibliographical references (p. 22-25).Cover; Contents; 1. Introduction; 2. The Model; 2.1 Households; 2.2 Firms and Production; 2.3 Monetary and Fiscal Policy; 2.4 Goods Market Equilibrium; 2.5 Storage and Oil Market Equilibrium; 3. Estimation; 3.1 Data; 3.2 Calibrated Parameters; 3.3 Prior Distributions and Estimation Results; 4. Conclusion; References; Appendix; Tables; 1. Calibrated parameters; 2. Prior distributions and posterior estimates (sample period: 1982Q1-2007Q4); 3. Variance decomposition (sample period: 1982Q1-2007Q4); 4. Variance decomposition (sample period: 2000Q1-2007Q4); Figures1. Impulse responses to a one standard deviation positive TFP shock2. Impulse responses to a one standard deviation positive labor productivity shock; 3. Impulse responses to a one standard deviation negative oil supply shock; 4. Impulse responses to a one standard deviation storage demand shock; 5. Impulse responses to a one standard deviation positive TFP shock with and without storage; 6. Impulse responses to a one standard deviation positive labor productivity shock with and without storage; 7. Impulse responses to a one standard deviation negative oil supplywith and without storageBuilding 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 of various demand and supply shocks change in the presence of oil storage facility. We find that business-cycle driven oil demand shocks are the most important drivers of U.S. oil price fluctuations during 1982-2007. Disregarding the storage facility in the model causes a considerable upward bias in the estimated role of oil supply shocks in driving oil price fluctuations. Our results also confirm that a change in the composition of shocks helps explain the resilience of the macroeconomic environment to the oil price surge after 2003. Finally, speculative storage is shown to have a mitigating or amplifying role depending on the nature of the shock.IMF Working Papers; Working Paper ;No. 2012/270Petroleum productsPricesEconometric modelsPetroleum productsStorageInvestments: EnergyimfInflationimfMacroeconomicsimfEconomic TheoryimfGeneral Aggregative Models: KeynesimfKeynesianimfPost-KeynesianimfEnergy and the MacroeconomyimfEnergy: Demand and SupplyimfPricesimfEnergy: GeneralimfCommodity MarketsimfPrice LevelimfDeflationimfAgriculture: Aggregate Supply and Demand AnalysisimfInvestment & securitiesimfEconomic theory & philosophyimfOil pricesimfOilimfCommodity price fluctuationsimfSupply shocksimfCommoditiesimfEconomic theoryimfPetroleum industry and tradeimfSupply and demandimfUnited StatesimfPetroleum productsPricesEconometric models.Petroleum productsStorage.Investments: EnergyInflationMacroeconomicsEconomic TheoryGeneral Aggregative Models: KeynesKeynesianPost-KeynesianEnergy and the MacroeconomyEnergy: Demand and SupplyPricesEnergy: GeneralCommodity MarketsPrice LevelDeflationAgriculture: Aggregate Supply and Demand AnalysisInvestment & securitiesEconomic theory & philosophyOil pricesOilCommodity price fluctuationsSupply shocksCommoditiesEconomic theoryPetroleum industry and tradeSupply and demand338.29346Unalmis Deren1816083Unalmis Ibrahim1816084Unsal Filiz1816085International Monetary Fund.Research Dept.DcWaIMFBOOK9910973896503321On the Sources and Consequences of Oil Price Shocks4371727UNINA