LEADER 05465oam 22011654 450 001 9910817158803321 005 20200520144314.0 010 $a1-4623-2447-9 010 $a1-4518-7430-8 010 $a1-4527-4097-6 010 $a1-282-84472-5 010 $a9786612844720 035 $a(CKB)3170000000055406 035 $a(SSID)ssj0000943224 035 $a(PQKBManifestationID)11484312 035 $a(PQKBTitleCode)TC0000943224 035 $a(PQKBWorkID)10977182 035 $a(PQKB)11320080 035 $a(OCoLC)671571349 035 $a(IMF)WPIEE2009285 035 $a(MiAaPQ)EBC1606014 035 $a(IMF)WPIEA2009285 035 $a(EXLCZ)993170000000055406 100 $a20020129d2009 uf 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aOn the Sources of Oil Price Fluctuations /$fDeren Unalmis, Ibrahim Unalmis, Filiz Unsal 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2009. 215 $a28 p. $cill 225 1 $aIMF Working Papers 300 $aBibliographic Level Mode of Issuance: Monograph 311 $a1-4519-1846-1 320 $aIncludes bibliographical references. 327 $aIntro -- 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. 330 3 $aAnalyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE framework. It models a small open economy and the rest of the world together to discover both accompanying effects of oil price changes and their international transmission mechanisms. Our results indicate that different sources of oil price fluctuations bring remarkably diverse outcomes for both economies. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2009/285 606 $aPetroleum products$xPrices 606 $aAccounting and price fluctuations 606 $aDeflation$2imf 606 $aEnergy: Demand and Supply$2imf 606 $aEnergy: General$2imf 606 $aGovernment business enterprises$2imf 606 $aHuman Capital$2imf 606 $aInflation$2imf 606 $aInvestment & securities$2imf 606 $aInvestments: Energy$2imf 606 $aLabor Productivity$2imf 606 $aLabor productivity$2imf 606 $aMacroeconomics$2imf 606 $aNationalization$2imf 606 $aNonprofit Organizations and Public Enterprise: General$2imf 606 $aOccupational Choice$2imf 606 $aOil prices$2imf 606 $aOil$2imf 606 $aPetroleum industry and trade$2imf 606 $aPrice Level$2imf 606 $aPrices$2imf 606 $aProduction and Operations Management$2imf 606 $aPublic enterprises$2imf 606 $aPublic ownership$2imf 606 $aSkills$2imf 615 0$aPetroleum products$xPrices. 615 0$aAccounting and price fluctuations. 615 7$aDeflation 615 7$aEnergy: Demand and Supply 615 7$aEnergy: General 615 7$aGovernment business enterprises 615 7$aHuman Capital 615 7$aInflation 615 7$aInvestment & securities 615 7$aInvestments: Energy 615 7$aLabor Productivity 615 7$aLabor productivity 615 7$aMacroeconomics 615 7$aNationalization 615 7$aNonprofit Organizations and Public Enterprise: General 615 7$aOccupational Choice 615 7$aOil prices 615 7$aOil 615 7$aPetroleum industry and trade 615 7$aPrice Level 615 7$aPrices 615 7$aProduction and Operations Management 615 7$aPublic enterprises 615 7$aPublic ownership 615 7$aSkills 676 $a339.53091724 700 $aUnalmis$b Deren$01623475 701 $aUnalmis$b Ibrahim$01623476 701 $aUnsal$b Filiz$01623477 712 02$aInternational Monetary Fund. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910817158803321 996 $aOn the Sources of Oil Price Fluctuations$94251079 997 $aUNINA