Oil and the World Economy: Some Possible Futures

WP/12/256

Nopic
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 READ MORE...

Publication date: October 2012
ISBN 9781475586640
$18.00

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Publication date: October 2012

English