Alomar, Ibrahim (2006): النمو الاقتصادي العالمي وأثره في اقتصاديات النفط خلال الفترة 1980-2005.
Download (249kB) | Preview
Currently, oil is considered as the most important commodity in our planet. It exceeds third of the international trade while world transportation, electricity, agriculture, and industry depend on oil. Economists have different opinions regarding issue of cause and effect of oil industry and world growth. This paper aims to clarify the issue. It found using econometric model that the causality direction is from world economic growth to oil price and its demand.
|Item Type:||MPRA Paper|
|Original Title:||النمو الاقتصادي العالمي وأثره في اقتصاديات النفط خلال الفترة 1980-2005|
|English Title:||World Economic Growth and its Effect on Economic of Energy during 1980-2005|
|Keywords:||اقتصاديات البترول، اقتصاديات الطاقة، النمو الاقتصادي|
|Subjects:||E - Macroeconomics and Monetary Economics > E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy
F - International Economics > F2 - International Factor Movements and International Business
D - Microeconomics > D4 - Market Structure, Pricing, and Design
O - Economic Development, Innovation, Technological Change, and Growth > O4 - Economic Growth and Aggregate Productivity
|Depositing User:||Ibrahim Alomar|
|Date Deposited:||03. Dec 2009 21:15|
|Last Modified:||30. Apr 2015 07:00|
Adelman, M. A., (1986), The World Petroleum Market, Johns Hopkins University Press for resources for the future, Baltimore.
Alomar, Ibrahim, (2004), Demand Elasticities for Energy Resources in the Industrials Countries, Commerce College Magazine, Zagazig University, Vol 6, I
Atkeson, Andrew, and Patrick J. Kehoe (1999), “Models of Energy Use: Putty-Putty Versus Putty-Clay,” American Economic Review, 89.
Bacon, R.W. (1991); “Rockets and Feathers: the Asymmetric Speed of Adjustment of U.K. Retail Gasoline Prices to Cost Changes”, Energy Economics, 13.
Bernanke, B. S., M. Gertler, and M. Watson. 1997. “Systematic Monetary Policy and the Effects of Oil Price Shocks,” Brookings Papers on Economic Activity 1.
Bohi, Douglas R. (1991), “On the Macroeconomic Effects of Energy Price Shocks,” Resources and Energy, 13.
Cutler J. Cleveland, Robert K. Kaufmann a, David I. Stern, (2000), Analysis Aggregation and the role of energy in the economy, Boston Uni6ersity, 675, Boston, USA.
Ferderer, J.P. (1996); “Oil Price Volatility and the Macroeconomy: A solution to the Asymmetry Puzzle”, Journal of Macroeconomics, 18.
Granger, C.W.J. (1969); ”Investigating Causal Relationships by Econometric Models and Cross-Spectral Methods”, Econometrica, 36.
Gregory D. Hess, (2000), Oil and the Macroeconomy, Prepared for the Shadow Open Market Committee Meeting, November.
Hamilton, (1988), “A Neoclassical Model of Unemployment and the Business Cycle”, Journal of Political Economy 96.
Hamilton, (2003), “What is an Oil Shock?”, Journal of Econometrics 113.
Hamilton, J. (1983), “Oil and the Macroeconomy Since World War II”, Journal of Political Economy 91.
Hooker, M. (1996), “What Happened to the Oil Price-Macroeconomy Relationship?, Journal of Monetary Economics 38.
Hooker, M. (1999), “Oil and the Macroeconomy Revisited”, Finance and Economics Discussion Series No. 43, Board of Governors of the Federal Reserve System.
Hooker, M. (2000), “Are Oil Shocks Inflationary? Asymmetric and Nonlinear Specifications versus Changes in Regime.” Mimeo, Federal Reserve Board, Washington, D.C., August.
Huntington, H.G. (1998); “Crude Oil Prices and the U.S. Economic Performance: Where Does the Asymmetry Reside”, Energy Journal, 19(4).
International Energy Outlook 2006, World Energy and Economic Outlook ,Energy Information Administration
Johansen, S. (1995), Likelihood-Based Inference in Cointegrated Vector Autoregressive models, Oxford University Press: Oxford
Marcello Giampiero, Eni S.P.A. (2004), Efficiency Of The Pricing Mechanism In The World Crude Oil Market, 19th World Energy Congress, Sydney, Australia.
Mork, K. (1989), “Oil Shocks and the Macroeconomy when Prices Go Up and Down: An Extension of Hamilton’s Results”, Journal of Political Economy 97.
Mork, K. (1994), “Business Cycles and the Oil Market”, Energy Journal 15(special issue).
Mory, J. (1993), “Oil Prices and Economic Activity: Is the Relationship Symmetric?”, Energy Journal 14.
Tatom, J.A. (1988); “Are the Macroeconomic Effects of Oil Price Changes Symmetric?”, Carnegie-Rochester Conference Series on Public Policy, 28, 325-68.