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.

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.

Adjustment in Oil-Importing Developing Countries

Adjustment in Oil-Importing Developing Countries
Author: Pradeep Mitra
Publisher: Cambridge University Press
Total Pages: 342
Release: 1994-02-03
Genre: Business & Economics
ISBN: 9780521443166

Analyses the impact of the oil price rises in the 1970s and 1980s on developing countries.

International Dimensions of Monetary Policy

International Dimensions of Monetary Policy
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.

Energy Analysis and Policy

Energy Analysis and Policy
Author: Mohan Munasinghe
Publisher: Butterworth-Heinemann
Total Pages: 336
Release: 2013-10-22
Genre: Business & Economics
ISBN: 1483162079

Energy Analysis and Policy: Selected Works discusses the major aspect of electricity economics, including pricing, demand forecasting, investment analysis, and system reliability. This book provides a clear and comprehensive overview of the diversity of problems in analyzing energy markets and designing sound energy policies. Organized into 14 chapters, this book first discusses the energy economics in developing countries; integrated national energy planning (INEP) in developing countries; energy pricing; practical application of INEP using microcomputers; and energy strategies for oil-importing developing countries. Subsequent chapters describe the energy demand management and conservation; national energy policy implementation; energy demand analysis and forecasting; and energy project evaluation and planning. Other chapters explore non-conventional energy project analysis and national energy policy; rural energy issues and supply options; and bioenergy management policy. Rural-industrial energy and fossil fuel issues, as well as energy R&D decision-making in developing countries, are also presented. As the issues in this book are very important, this book will be helpful to a wide and appreciative audience.

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.

Energy Strategies for Developing Nations

Energy Strategies for Developing Nations
Author: Joy Dunkerley
Publisher: Resources for the Future
Total Pages: 290
Release: 1981
Genre: Business & Economics
ISBN: 9780801825972

Monograph on energy policies for developing countries - discusses power demand, power consumption and the world energy crisis, non renewable and renewable energy sources, and suggests energy conservation, increasing domestic power supply (incl. Petroleum, coal, gas and fuels), and improving energy efficiency and international cooperation for long term energy transition. Diagrams, graph, maps, references and statistical tables.

International Borrowing by Developing Countries

International Borrowing by Developing Countries
Author: Marilyn J. Seiber
Publisher: Elsevier
Total Pages: 224
Release: 2013-10-22
Genre: Business & Economics
ISBN: 1483189813

International Borrowing by Developing Countries analyzes the various aspects of developing-country debt. The title covers various concepts such as theory of borrowing, official and private debt, petrofund recycling, and debt relief. The text first deals with role of external capital and debt in economic development, and then proceeds to examining the historical debt experience of the now-creditor countries. Next, the selection tackles the official bilateral and multilateral debt along with its patterns, magnitude, and the procedures and experience of official debt rescheduling. The text also analyzes the private Eurocurrency debt and the official positions on debt relief and reviews proposals for recycling petrofunds and providing new sources of financing. The last part deals with the political factors that will affect external debt, as well as recommendations for future policy. The book will be of great interest to economists, political scientists, game theorists, and sociologists.

Balance-of-payments Adjustment to Higher Oil Prices

Balance-of-payments Adjustment to Higher Oil Prices
Author: United States. Congress. House. Committee on Banking and Currency. Ad Hoc Committee on the Domestic and International Monetary Effect of Energy and Other Natural Resource Pricing
Publisher:
Total Pages: 76
Release: 1975
Genre: Balance of payments
ISBN: