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[null,"1.","Record Nr.",null,"UNINA9910779331403321"]
[null,null,"Autore",null,"Cashin Paul"]
[null,null,"Titolo",null,"The Differential Effects of Oil Demand and Supply Shocks on the Global Economy / / Paul Cashin, Kamiar Mohaddes, Mehdi Raissi, Maziar Raissi"]
[null,null,"Pubbl/distr/stampa",null,"Washington, D.C. : , : International Monetary Fund, , 2012"]
[null,null,"ISBN",null,"1-4755-2461-7"]
[{"$nulls":4},"1-4755-9607-3"]
[{"$nulls":4},"1-283-86688-9"]
[{"$nulls":4},"1-4755-4455-3"]
[null,null,"Descrizione fisica",null,"1 online resource (42 p.)"]
[null,null,"Collana",null,"IMF Working Papers"]
[{"$nulls":4},"IMF working paper ; ; WP/12/253"]
[null,null,"Soggetti",null,"Petroleum reserves - Economic aspects"]
[{"$nulls":4},"Economics"]
[{"$nulls":4},"Investments: Energy"]
[{"$nulls":4},"Econometrics"]
[{"$nulls":4},"Foreign Exchange"]
[{"$nulls":4},"Macroeconomics"]
[{"$nulls":4},"Industries: Energy"]
[{"$nulls":4},"Time-Series Models"]
[{"$nulls":4},"Dynamic Quantile Regressions"]
[{"$nulls":4},"Dynamic Treatment Effect Models"]
[{"$nulls":4},"Diffusion Processes"]
[{"$nulls":4},"State Space Models"]
[{"$nulls":4},"General Aggregative Models: Forecasting and Simulation"]
[{"$nulls":4},"International Business Cycles"]
[{"$nulls":4},"Macroeconomic Aspects of International Trade and Finance: Forecasting and Simulation"]
[{"$nulls":4},"Energy: Demand and Supply"]
[{"$nulls":4},"Prices"]
[{"$nulls":4},"Energy: General"]
[{"$nulls":4},"Macroeconomics: Production"]
[{"$nulls":4},"Investment & securities"]
[{"$nulls":4},"Econometrics & economic statistics"]
[{"$nulls":4},"Petroleum, oil & gas industries"]
[{"$nulls":4},"Currency"]
[{"$nulls":4},"Foreign exchange"]
[{"$nulls":4},"Oil"]
[{"$nulls":4},"Oil prices"]
[{"$nulls":4},"Vector autoregression"]
[{"$nulls":4},"Oil production"]
[{"$nulls":4},"Real effective exchange rates"]
[{"$nulls":4},"Commodities"]
[{"$nulls":4},"Econometric analysis"]
[{"$nulls":4},"Production"]
[{"$nulls":4},"Petroleum industry and trade"]
[{"$nulls":4},"United States"]
[null,null,"Lingua di pubblicazione",null,"Inglese"]
[null,null,"Formato",null,"Materiale a stampa"]
[null,null,null,"Livello bibliografico","Monografia"]
[null,null,null,"Note generali","Description based upon print version of record."]
[null,null,null,"Nota di bibliografia","Includes bibliographical references."]
[null,null,"Nota di contenuto",null,"Cover; Contents; I. Introduction; II. The Global VAR (GVAR) Methodology; III. A Global VAR Model Including Major Oil Exporters; Tables; 1. Countries and Regions in the GVAR Model with Major Oil Exporters; A. Variables; Domestic Variables; Foreign Variables; Global Variables; 2. Oil Consumption by Oil Importers, averages over 1979-2010; B. Model Specification; 3. Oil Reserves, Production and Exports of Major Oil Exporters, averages over 2008-2010; C. Country-Specific Estimates and Tests; 4. Variables Specification of the Country-Specific VARX* Models"]
[{"$nulls":4},"Lag Order Selection, Cointegrating Relations, and Persistence Profiles5. Lag Orders of the Country-Specific VARX*(s,s*) Models Together with the Number of Cointegrating Relations (r); Figures; 1. Persistence Profiles of the Effect of a System-wide Shock to the Cointegrating Relations; Testing the Weak Exogeneity Assumption; 6. F-Statistics for Testing the Weak Exogeneity of the Country-Specific Foreign Variables, Oil Prices, and Oil Production; Testing for Structural Breaks; IV. Identification of Oil Shocks"]
[{"$nulls":4},"7. Number of Rejections of the Null of Parameter Constancy per Variable Across the Country-specific Models at the 5 Percent Significance Level8. Identification of Structural Shocks; A. Oil-Supply Shocks; 2. Impact of Oil-Supply Shocks on Major Oil Importers; 3. Impact of Oil-Supply Shocks on OPEC Countries; 4. Impact of Oil-Supply Shocks on OECD Oil Exporters; B. Oil-Demand Shocks; 5. Impact of Oil-Demand Shocks on Major Oil Importers; 6. Impact of Oil-Demand Shocks on OPEC Countries; 7. Impact of Oil-Demand Shocks on OECD Oil Exporters; V. Concluding Remarks; References; Data Appendix"]
[{"$nulls":4},"9. Fixed Trade Weights based on the years 2006-2008"]
[null,null,null,"Sommario/riassunto","We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2–2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic effects for different countries. The results indicate that the economic consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic activity, and vary for oil-importing countries compared to energy exporters. While oil importers typically face a long-lived fall in economic activity in response to a supply-driven surge in oil prices, the impact is positive for energy-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in our "]
[{"$nulls":4},"sample experience long-run inflationary pressures and a short-run increase in real output."]