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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 |
|---|---|
| Autores principales: | , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund, Research Dept.,
2012.
|
| Colección: | IMF working paper ;
WP12/256. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Kumhof, Michael, |e author. | |
| 245 | 1 | 0 | |a Oil and the world economy : |b some possible futures / |c Michael Kumhof and Dirk Muir. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, Research Dept., |c 2012. | ||
| 300 | |a 1 online resource (31 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP12/256 | |
| 500 | |a "October 2012." | ||
| 520 | |a "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. | ||
| 504 | |a Includes bibliographical references. | ||
| 505 | 0 | |a Cover; Contents; I. Introduction; II. The Model; A. Oil Supply; B. Oil Demand; 1. Baseline Scenario; 2. Growing Elasticity Scenario; 3. Entropy Boundary and Falling Elasticity Scenarios; 4. Technology Externality Scenario; C. World Oil Market Equilibrium; D. Calibration; III. Discussion of the Alternative Specifications; A. Entropy Boundary and Falling Elasticity Scenarios; 1. Supply Limitations; 2. Technical Substitutability; B. Growing Elasticity Scenario; C. Technology Externality Scenario; IV. Simulation Results; A. Baseline Scenario; B. Growing Elasticity Scenario. | |
| 505 | 8 | |a C. Entropy Boundary Scenario and Falling Elasticity ScenarioD. Technology Externality Scenario; E. Larger Shock Scenario; F. Combined Downside Scenarios; G. Combined Downside and Growing Elasticity Scenario; H. The Assumption of Unitary Income Elasticity; I. The Assumption of Smooth Reallocation; V. Conclusion; References; Figures; 1. World Crude Oil Production (in million barrels per day); 2. The Entropy Boundary in Factor Space; 3. Baseline Scenario; 4. Growing Elasticity Scenario; 5. Entropy Boundary Scenario; 6. Falling Elasticity Scenario. | |
| 590 | |a eBooks on EBSCOhost |b EBSCO eBook Subscription Academic Collection - Worldwide | ||
| 650 | 0 | |a Petroleum products |x Prices |x Econometric models. | |
| 650 | 0 | |a Energy consumption |x Econometric models. | |
| 650 | 6 | |a Produits pétroliers |x Prix |x Modèles économétriques. | |
| 650 | 6 | |a Énergie |x Consommation |x Modèles économétriques. | |
| 650 | 7 | |a BUSINESS & ECONOMICS |x Industries |x General. |2 bisacsh | |
| 650 | 7 | |a Energy consumption |x Econometric models |2 fast | |
| 650 | 7 | |a Petroleum products |x Prices |x Econometric models |2 fast | |
| 700 | 1 | |a Muir, Dirk, |e author. | |
| 710 | 2 | |a International Monetary Fund. |b Research Department. | |
| 830 | 0 | |a IMF working paper ; |v WP12/256. | |
| 856 | 4 | 0 | |u https://ebsco.uam.elogim.com/login.aspx?direct=true&scope=site&db=nlebk&AN=516436 |z Texto completo |
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