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Fiscal policy and economic cycles in oil-exporting countries
Husain, Aasim M. (Author), Tazhibayeva, Kamilya (Author), Ter-Martirosyan, Anna (Author)

URLURL - Presentation file, Visit http://www.imf.org/external/pubs/ft/wp/2008/wp08253.pdf New window

Abstract
This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes affect the economic cycle only through their impact on fiscal policy. Once fiscal policy changes are removed, oil price shocks do not have a significant independent effect on the economic cycle.

Language:English
Keywords:razvite dežele, nafta, cena, izvoz, fiskalna politika, gospodarska gibanja, cikli, potrošnja
Work type:Not categorized (r6)
Organization:EF - Faculty of Economics
Year:2008
Publisher:International Monetary Fund
Number of pages:21 str.
Place:Washington (D.C.)
UDC:336
COBISS.SI-ID:18467814 Link is opened in a new window
Views:305
Downloads:84
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