Tazhibayeva, Kamilya.
Fiscal Policy and Economic Cycles in Oil-Exporting Countries. - 1 online resource (23 pages) - IMF Working Papers . - IMF Working Papers .
Intro -- Contents -- I. Introduction -- II. Data and Cyclical Properties -- III. Oil Prices, Output Cycles, and Fiscal Policy -- IV. Panel VAR Framework -- V. Sensitivity Checks and Extensions -- VI. Conclusions -- References -- Appendixes -- A. Data Sources and Descriptions -- B. Unit Root Tests.
This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes affect the economic cycle only through their impact on fiscal policy. Once fiscal policy changes are removed, oil price shocks do not have a significant independent effect on the economic cycle.
9781451915648
Business cycles -- Econometric models.
Fiscal policy -- Econometric models.
Petroleum industry and trade -- Econometric models.
Electronic books.
HJ192 -- .H87 2008eb
336.3015195
Fiscal Policy and Economic Cycles in Oil-Exporting Countries. - 1 online resource (23 pages) - IMF Working Papers . - IMF Working Papers .
Intro -- Contents -- I. Introduction -- II. Data and Cyclical Properties -- III. Oil Prices, Output Cycles, and Fiscal Policy -- IV. Panel VAR Framework -- V. Sensitivity Checks and Extensions -- VI. Conclusions -- References -- Appendixes -- A. Data Sources and Descriptions -- B. Unit Root Tests.
This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes affect the economic cycle only through their impact on fiscal policy. Once fiscal policy changes are removed, oil price shocks do not have a significant independent effect on the economic cycle.
9781451915648
Business cycles -- Econometric models.
Fiscal policy -- Econometric models.
Petroleum industry and trade -- Econometric models.
Electronic books.
HJ192 -- .H87 2008eb
336.3015195