[PDF] Oil Prices And A Small Oil Importing Economys Welfare And Trade Balance eBook

Author : Lars E. O. Svensson
Publisher :
Page : 48 pages
File Size : 17,17 MB
Release : 1982
Category : Balance of trade
ISBN :

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The paper examines welfare effects and the trade balance response to changes in the world oil prices and interest rates for a small oil-importing economy. The trade balance is mainly seen as the difference between saving and investment, and these are derived from intertemporal optimization. It is shown that the welfare effects consist of static terms of trade effects, intertemporal terms of trade effects, and employment effects. The trade balance deteriorates for temporary oil price increases, whereas its response is ambiguous for permanent oil price increases. For a fall in the world interest rate, the trade balance deteriorates, if the economy is a net borrower.

Author : Nancy Peregrim Marion
Publisher :
Page : 46 pages
File Size : 31,55 MB
Release : 1983
Category : Economic stabilization
ISBN :

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This paper examines the effect of OPEC price increases on the welfare of a group of oil-importing industrial countries. It also studies how taxes or subsidies on oil imports or capital flows could alter the group's welfare. The analysis is conducted using a general-equilibrium model that describes the behavior of two actors, OPEC and the oil-importing bloc called Industria. The analysis is explicitly intertemporal and takes into account endogenous changes in saving, investment and employment. We show that Industria's welfare is affected not only by direct oil terms of trade effect, but also by changes in the world rate of interest(intertemporal terms of trade effects) and, for rigid wages, changes in employment. Thus Industria gains from the intertemporal terms of trade effect if it is a net borrower and the world rate of interest falls. Precise conditions for whether the world rate of interest falls or rises are given. We also show that Industria may gain from subsidizing oil imports rather than taxing them, in particular if wages are rigid, and that it may gain from restricting international capital mobility.

Author : James K. Jackson
Publisher : DIANE Publishing
Page : 23 pages
File Size : 34,94 MB
Release : 2008
Category :
ISBN : 1437931464

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This report analyzes the relationship between the dollar and the price of oil and how the two might interact. This report provides an assessment of the impact a range of prices of imported oil could have on the U.S. trade deficit.

Author : Douglas R. Bohi
Publisher : Routledge
Page : 224 pages
File Size : 25,65 MB
Release : 2015-08-11
Category : Nature
ISBN : 1317375971

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This book, first published in 1982, takes the interaction between the domestic economy and the international trade in oil and, through the use of a consistent microeconomic framework, examines the conditions under which energy and related policies may or may not improve the performance of the U.S. economy, during both normal periods and old supply disruptions. This title will be of interests to students of environmental management.

Author : Douglas R. Bohi
Publisher : Routledge
Page : 381 pages
File Size : 28,73 MB
Release : 2013-11-26
Category : Business & Economics
ISBN : 1135986304

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First Published in 2011. This book presents the results of the third phase of our analysis of U.S. oil imports in relation to U.S. energy policy. It presents a definitive history and analysis of the United States' experiment with formal oil import controls and addresses three questions: The first is how the U.S. energy situation, especially energy security, was affected by what was going on in the rest of the world. The second is the more narrow issue of what energy security options appeared available to the United States from the perspective of the special conditions which existed during 1974-75. The third question, the main subject of this book, and the one with which we initially began, was what lessons might be learned from earlier efforts to limit imports, especially through the Mandatory Oil Import Program.

Author : Mr.Aasim M. Husain
Publisher : International Monetary Fund
Page : 41 pages
File Size : 50,46 MB
Release : 2015-07-14
Category : Business & Economics
ISBN : 151357227X

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The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.