Global Implications of Lower Oil Prices

Global Implications of Lower Oil Prices
Author: Mr.Aasim M. Husain
Publisher: International Monetary Fund
Total Pages: 41
Release: 2015-07-14
Genre: Business & Economics
ISBN: 151357227X

The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.

The Price of Oil

The Price of Oil
Author: Roberto F. Aguilera
Publisher: Cambridge University Press
Total Pages: 253
Release: 2016
Genre: Business & Economics
ISBN: 1107110017

This book explains why oil prices rose so spectacularly in the past and examines how they will be suppressed in the future.

Crude Volatility

Crude Volatility
Author: Robert McNally
Publisher: Columbia University Press
Total Pages: 336
Release: 2017-01-17
Genre: Business & Economics
ISBN: 0231543689

As OPEC has loosened its grip over the past ten years, the oil market has been rocked by wild price swings, the likes of which haven't been seen for eight decades. Crafting an engrossing journey from the gushing Pennsylvania oil fields of the 1860s to today's fraught and fractious Middle East, Crude Volatility explains how past periods of stability and volatility in oil prices help us understand the new boom-bust era. Oil's notorious volatility has always been considered a scourge afflicting not only the oil industry but also the broader economy and geopolitical landscape; Robert McNally makes sense of how oil became so central to our world and why it is subject to such extreme price fluctuations. Tracing a history marked by conflict, intrigue, and extreme uncertainty, McNally shows how—even from the oil industry's first years—wild and harmful price volatility prompted industry leaders and officials to undertake extraordinary efforts to stabilize oil prices by controlling production. Herculean market interventions—first, by Rockefeller's Standard Oil, then, by U.S. state regulators in partnership with major international oil companies, and, finally, by OPEC—succeeded to varying degrees in taming the beast. McNally, a veteran oil market and policy expert, explains the consequences of the ebbing of OPEC's power, debunking myths and offering recommendations—including mistakes to avoid—as we confront the unwelcome return of boom and bust oil prices.

Oil Prices and the Global Economy

Oil Prices and the Global Economy
Author: Mr.Rabah Arezki
Publisher: International Monetary Fund
Total Pages: 30
Release: 2017-01-27
Genre: Business & Economics
ISBN: 1475572360

This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration and extraction, as well as features of oil demand such as the secular increase in demand from emerging-market economies, usage efficiency, and endogenous demand responses. The model provides, inter alia, a useful analytical framework to explore the effects of: a change in world GDP growth; a change in the efficiency of oil usage; and a change in the supply of oil. Notwithstanding that shale oil production today is more responsive to prices than conventional oil, our analysis suggests that an era of prolonged low oil prices is likely to be followed by a period where oil prices overshoot their long-term upward trend.

The Distributional Implications of the Impact of Fuel Price Increases on Inflation

The Distributional Implications of the Impact of Fuel Price Increases on Inflation
Author: Mr. Kangni R Kpodar
Publisher: International Monetary Fund
Total Pages: 34
Release: 2021-11-12
Genre: Business & Economics
ISBN: 1616356154

This paper investigates the response of consumer price inflation to changes in domestic fuel prices, looking at the different categories of the overall consumer price index (CPI). We then combine household survey data with the CPI components to construct a CPI index for the poorest and richest income quintiles with the view to assess the distributional impact of the pass-through. To undertake this analysis, the paper provides an update to the Global Monthly Retail Fuel Price Database, expanding the product coverage to premium and regular fuels, the time dimension to December 2020, and the sample to 190 countries. Three key findings stand out. First, the response of inflation to gasoline price shocks is smaller, but more persistent and broad-based in developing economies than in advanced economies. Second, we show that past studies using crude oil prices instead of retail fuel prices to estimate the pass-through to inflation significantly underestimate it. Third, while the purchasing power of all households declines as fuel prices increase, the distributional impact is progressive. But the progressivity phases out within 6 months after the shock in advanced economies, whereas it persists beyond a year in developing countries.

The Oil Bubble

The Oil Bubble
Author: Samuel P. Irvin
Publisher:
Total Pages: 78
Release: 1868
Genre: Speculation
ISBN:

Multi-Modal Sentiment Analysis

Multi-Modal Sentiment Analysis
Author: Hua Xu
Publisher: Springer Nature
Total Pages: 278
Release: 2023-11-26
Genre: Technology & Engineering
ISBN: 9819957761

The natural interaction ability between human and machine mainly involves human-machine dialogue ability, multi-modal sentiment analysis ability, human-machine cooperation ability, and so on. To enable intelligent computers to have multi-modal sentiment analysis ability, it is necessary to equip them with a strong multi-modal sentiment analysis ability during the process of human-computer interaction. This is one of the key technologies for efficient and intelligent human-computer interaction. This book focuses on the research and practical applications of multi-modal sentiment analysis for human-computer natural interaction, particularly in the areas of multi-modal information feature representation, feature fusion, and sentiment classification. Multi-modal sentiment analysis for natural interaction is a comprehensive research field that involves the integration of natural language processing, computer vision, machine learning, pattern recognition, algorithm, robot intelligent system, human-computer interaction, etc. Currently, research on multi-modal sentiment analysis in natural interaction is developing rapidly. This book can be used as a professional textbook in the fields of natural interaction, intelligent question answering (customer service), natural language processing, human-computer interaction, etc. It can also serve as an important reference book for the development of systems and products in intelligent robots, natural language processing, human-computer interaction, and related fields.