World Economic Adjustment Since The First Oil Crisis
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| 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.
| Author | : Jordi Galí |
| Publisher | : University of Chicago Press |
| Total Pages | : 663 |
| Release | : 2010-03-15 |
| Genre | : Business & Economics |
| ISBN | : 0226278875 |
United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous shocks. Such an assumption is increasingly unrealistic in the age of integrated capital markets, tightened links between national economies, and reduced trading costs. International Dimensions of Monetary Policy brings together fresh research to address the repercussions of the continuing evolution toward globalization for the conduct of monetary policy. In this comprehensive book, the authors examine the real and potential effects of increased openness and exposure to international economic dynamics from a variety of perspectives. Their findings reveal that central banks continue to influence decisively domestic economic outcomes—even inflation—suggesting that international factors may have a limited role in national performance. International Dimensions of Monetary Policy will lead the way in analyzing monetary policy measures in complex economies.
| 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.
| Author | : Anne O. Krueger |
| Publisher | : |
| Total Pages | : 32 |
| Release | : 1985 |
| Genre | : Economic history |
| ISBN | : |
| Author | : Michael D. Bordo |
| Publisher | : University of Chicago Press |
| Total Pages | : 545 |
| Release | : 2013-06-28 |
| Genre | : Business & Economics |
| ISBN | : 0226066959 |
Controlling inflation is among the most important objectives of economic policy. By maintaining price stability, policy makers are able to reduce uncertainty, improve price-monitoring mechanisms, and facilitate more efficient planning and allocation of resources, thereby raising productivity. This volume focuses on understanding the causes of the Great Inflation of the 1970s and ’80s, which saw rising inflation in many nations, and which propelled interest rates across the developing world into the double digits. In the decades since, the immediate cause of the period’s rise in inflation has been the subject of considerable debate. Among the areas of contention are the role of monetary policy in driving inflation and the implications this had both for policy design and for evaluating the performance of those who set the policy. Here, contributors map monetary policy from the 1960s to the present, shedding light on the ways in which the lessons of the Great Inflation were absorbed and applied to today’s global and increasingly complex economic environment.
| Author | : Elena Candelo |
| Publisher | : Springer |
| Total Pages | : 202 |
| Release | : 2019-04-09 |
| Genre | : Business & Economics |
| ISBN | : 303015999X |
This book proposes that, within the automotive industry, revised marketing principles and innovative marketing strategies are needed to address more effectively the unprecedented challenges posed by the modern digital revolution. The starting point for these proposals is a thorough analysis of the evolution of marketing in the industry across three ages of technological innovations – the mechanical, the electronic, and the digital. The main objectives are first, to illustrate how study of the past can help carmakers as they move forward into the unknown, and second, to identify the main choices that they will face. The central premise is that unusual times call for unusual strategies. By mining the past in order to foresee likely future developments regarding competition and marketing strategies within the car industry, the book will appeal both to researchers and to present or future managers in the automotive and other innovation-driven sectors.
| Author | : Alan S. Blinder |
| Publisher | : Elsevier |
| Total Pages | : 244 |
| Release | : 2013-09-11 |
| Genre | : Business & Economics |
| ISBN | : 1483264564 |
Economic Policy and the Great Stagflation discusses the national economic policy and economics as a policy-oriented science. This book summarizes what economists do and do not know about the inflation and recession that affected the U.S. economy during the years of the Great Stagflation in the mid-1970s. The topics discussed include the basic concepts of stagflation, turbulent economic history of 1971-1976, anatomy of the great recession and inflation, and legacy of the Great Stagflation. The relation of wage-price controls, fiscal policy, and monetary policy to the Great Stagflation is also elaborated. This publication is beneficial to economists and students researching on the history of the Great Stagflation and policy errors of the 1970s.
| 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.
| Author | : Meg Jacobs |
| Publisher | : Macmillan |
| Total Pages | : 385 |
| Release | : 2016-04-19 |
| Genre | : Business & Economics |
| ISBN | : 0809058472 |
"A detailed historical narrative of the U.S. energy crisis in the 1970s and how policymakers responded to the turmoil"--
| Author | : Stephen Broadberry |
| Publisher | : Cambridge University Press |
| Total Pages | : 363 |
| Release | : 2005-09-29 |
| Genre | : History |
| ISBN | : 1139448358 |
This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.
