Amazon cover image
Image from Amazon.com

Oil and the world economy [electronic resource] : some possible futures / Michael Kumhof and Dirk Muir.

By: Contributor(s): Material type: TextTextSeries: IMF working paper ; WP12/256.Publication details: Washington, D.C. : International Monetary Fund, Research Dept., 2012.Description: 1 online resource (31 p.)ISBN:
  • 9781475539974 (electronic bk.)
  • 1475539975 (electronic bk.)
Subject(s): Genre/Form: DDC classification:
  • 338.2/728 23
LOC classification:
  • HD9560.4
Online resources: Summary: "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.
Holdings
Item type Current library Collection Call number Status Date due Barcode Item holds
eBook eBook e-Library EBSCO Business Available
Total holds: 0

"October 2012".

"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.

Powered by Koha