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Oil and the world economy : some possible futures /
"This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But...
| Clasificación: | Libro Electrónico |
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| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund, Research Dept.,
2012.
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| Colección: | IMF working paper ;
WP12/256. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | "This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional production technologies the effects are modest. But for larger shocks, for elasticities of substitution that decline as oil usage is reduced to a minimum, and for production functions in which oil acts as a critical enabler of technologies, GDP growth could drop significantly. Also, oil prices could become so high that smooth adjustment, as assumed in the model, may become very difficult."--Abstract. |
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| Notas: | "October 2012." |
| Descripción Física: | 1 online resource (31 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 9781475539974 1475539975 |