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On the Sources of Oil Price Fluctuations

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to mod...

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Bibliographic Details
Main Author: Unalmis, Deren
Other Authors: Unalmis, Ibrahim, Unsal, Filiz
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2009
Series:IMF Working Papers
Subjects:
Inflation
Energy: Demand And Supply
Public Ownership
Nonprofit Organizations And Public Enterprise: General
Oil Prices
Oil
Investments: Energy
Government Business Enterprises
Deflation
Skills
Petroleum Industry And Trade
Nationalization
Labor Productivity
Price Level
Energy: General
Public Enterprises
Prices
Macroeconomics
Occupational Choice
Investment & Securities
Human Capital
Production And Operations Management
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE framework. It models a small open economy and the rest of the world together to discover both accompanying effects of oil price changes and their international transmission mechanisms. Our results indicate that different sources of oil price fluctuations bring remarkably diverse outcomes for both economies
Physical Description:28 pages
ISBN:9781451874303

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