Fiscal Policy and Economic Cycles in Oil-Exporting Countries /

Fiscal Policy and Economic Cycles in Oil-Exporting Countries /

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Bibliographic Details
Author / Creator:	Tazhibayeva, Kamilya.
Imprint:	Washington, D.C. : International Monetary Fund, 2008. 2008
Description:	1 online resource (21 pages).
Language:	English
Series:	IMF Working Papers, 2227-8885 ; Working Paper No. 08/253 IMF Working Papers ; Working Paper no. 08/253.
Subject:	Fiscal policy -- Econometric models. Business cycles -- Econometric models. Petroleum industry and trade -- Econometric models. Business cycles -- Econometric models. Fiscal policy -- Econometric models. Petroleum industry and trade -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12508173

Hidden Bibliographic Details
Other authors / contributors:	Husain, Aasim M. Tazhibayeva, Kamilya. Ter-Martirosyan, Anna. International Monetary Fund.
ISBN:	1451915640 9781451915648 9781451871111 1451871112 9781451915648
Notes:	Available in PDF, ePUB, and Mobi formats on the Internet.
Summary:	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.
Standard no.:	10.5089/9781451915648.001

Table of 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