The Experts below are selected from a list of 2175 Experts worldwide ranked by ideXlab platform
Almukhtar S Alabri - One of the best experts on this subject based on the ideXlab platform.
-
optimal exchange rate policy for a small Oil Exporting Country a dynamic general equilibrium perspective
Economic Modelling, 2014Co-Authors: Almukhtar S AlabriAbstract:This paper examines the choice of optimal exchange rate regime for an Oil-Exporting small open economy using a welfare-based model. The paper extends the standard New Keynesian Small Open Economy model to include three countries: a small Oil-Exporting Country and two large foreign countries. The model also features three sectors: traded, non-traded, and primary-commodity (crude-Oil). The sources of uncertainty are random monetary (demand), productivity (real), and real Oil price (supply) shocks. Despite the absence of a non-Oil traded sector in this primary-commodity economy, the welfare analysis suggests that flexible exchange rate regimes can reduce external shocks and consumption volatility given certain caveats about pricing-schemes. The analysis also suggests that a basket peg is more welfare-improving than a unilateral peg, as higher volatility of the anchor currency reduces consumer welfare.
-
optimal exchange rate policy for a small Oil Exporting Country a dynamic general equilibrium perspective
Social Science Research Network, 2006Co-Authors: Almukhtar S AlabriAbstract:This paper investigates the choice of optimal exchange rate regime for an Oil-Exporting small open economy, a case relevant to a large number of primary-commodity economies, in which the terms-of-trade are driven by world commodity price cycle. The new Keynesian small open economy model is extended to include three countries, a small commodity-Exporting Country (Home) and two large foreign countries. The sources of uncertainty are random monetary (demand), productivity (real), and Oil-price (supply) shocks. Despite the nonexistence of a traded sector (other than crude-Oil exports) in this primary-commodity economy, the welfare analyses show that flexible exchange rate regimes can reduce terms-of-trade and consumption volatility given certain caveats about pricing-schemes. The analyses also suggest that a basket peg is more welfare-improving compared to a unilateral peg. Further, the variance of the currency in which Oil-price is denominated came as an important determinant in welfare analyses. These conclusions have important policy implication, particularly for the Gulf Cooperation Council (GCC) countries as they consider alternative monetary arrangements.
Esmaeil Naderi - One of the best experts on this subject based on the ideXlab platform.
-
the long run and short run effects of crude Oil price on methanol market in iran
International Journal of Energy Economics and Policy, 2012Co-Authors: Akbar Komijani, Nadiya Gandali Alikhani, Esmaeil NaderiAbstract:Substituting crude Oil exports with value-added petrochemical products is one of the main strategies for policy makers in Oil-driven economies to isolating the real sectors of economy from Oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s Oil price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, Oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant. Keywords: Crude Oil; Methanol; VECM Model JEL Classifications: Q43; C1; C32
-
the long run and short run effects of crude Oil price on methanol market in iran
MPRA Paper, 2012Co-Authors: Akbar Komijani, Nadiya Gandali Alikhani, Esmaeil NaderiAbstract:Substituting crude Oil exports with value-added petrochemical products is one of the main strategies for policy makers in Oil-driven economies to isolating the real sectors of economy from Oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s Oil price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, Oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant.
Akbar Komijani - One of the best experts on this subject based on the ideXlab platform.
-
the long run and short run effects of crude Oil price on methanol market in iran
International Journal of Energy Economics and Policy, 2012Co-Authors: Akbar Komijani, Nadiya Gandali Alikhani, Esmaeil NaderiAbstract:Substituting crude Oil exports with value-added petrochemical products is one of the main strategies for policy makers in Oil-driven economies to isolating the real sectors of economy from Oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s Oil price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, Oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant. Keywords: Crude Oil; Methanol; VECM Model JEL Classifications: Q43; C1; C32
-
the long run and short run effects of crude Oil price on methanol market in iran
MPRA Paper, 2012Co-Authors: Akbar Komijani, Nadiya Gandali Alikhani, Esmaeil NaderiAbstract:Substituting crude Oil exports with value-added petrochemical products is one of the main strategies for policy makers in Oil-driven economies to isolating the real sectors of economy from Oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s Oil price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, Oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant.
Nadiya Gandali Alikhani - One of the best experts on this subject based on the ideXlab platform.
-
the dynamic effects of crude Oil and natural gas prices on iran s methanol
Research Papers in Economics, 2013Co-Authors: Majid Delavari, Nadiya Gandali AlikhaniAbstract:Petroleum and petrochemicals prices movements have always been at the core of economic research agenda not only because of its crucial effect on the cash flows of Oil-related businesses, but also due to the far-reaching implications of Oil price uncertainty on the macro-economy and the financial markets. It is not surprising therefore that in the energy economics literature there is a plethora of empirical studies examining the issue of modeling movements and risk management. As a case study, this paper investigates the dynamic relationship between Iran’s crude Oil price, natural gas price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from first week of 2005:1 to the third week 2013:5 in a VECM framework is applied. The results show that in the long-run, Oil and gas prices hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant.
-
the long run and short run effects of crude Oil price on methanol market in iran
International Journal of Energy Economics and Policy, 2012Co-Authors: Akbar Komijani, Nadiya Gandali Alikhani, Esmaeil NaderiAbstract:Substituting crude Oil exports with value-added petrochemical products is one of the main strategies for policy makers in Oil-driven economies to isolating the real sectors of economy from Oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s Oil price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, Oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant. Keywords: Crude Oil; Methanol; VECM Model JEL Classifications: Q43; C1; C32
-
the long run and short run effects of crude Oil price on methanol market in iran
MPRA Paper, 2012Co-Authors: Akbar Komijani, Nadiya Gandali Alikhani, Esmaeil NaderiAbstract:Substituting crude Oil exports with value-added petrochemical products is one of the main strategies for policy makers in Oil-driven economies to isolating the real sectors of economy from Oil price volatility. This policy inclination has led to a body of literature in energy economics in recent decades. As a case study, this paper investigates the short-run and long-run relationship between Iran’s Oil price and methanol price which is one of the most important non-Oil exports of the Oil-Exporting Country. To do so, the weekly data from 18 Jan. 2009 to 18 Sep. 2011 in a VECM framework is applied. The results show that in the long-run, Oil price hikes leads to proportional increase in methanol price while in the short-run, this impact is not significant.
Marta Gomezpuig - One of the best experts on this subject based on the ideXlab platform.
-
fiscal dynamics in a dollarized Oil Exporting Country ecuador
2013Co-Authors: Maria Lorena Mari Del Cristo, Marta GomezpuigAbstract:This paper examines the relationship between fiscal variables and economic activity in Ecuador. We use a macro-level dataset covering twelve years of full dollarization to explore the link between government spending, Oil revenues, non-Oil tax revenues and the economic activity index. The cointegrated VAR approach is adopted to identify the permanent and transitory shocks that affect both fiscal and macroeconomic variables. We identify two forces that push the fiscal system out of equilibrium: namely, economic activity and fiscal spending. The tax revenues variable is purely adjusting, consistent with the tax smoothing theory (Barro, 1979), but risking fiscal discipline. In a dollarized Country, since there is no possibility of earning the “inflation tax” or printing new money, taxes should not be the adjusting forces, but the pushing ones. Our results suggest that Ecuador should recover control of its monetary policy to enable and promote both economic and tax diversification in order to find a substitute for Oil exports, the main source of government revenues.
-
fiscal sustainability and fiscal shocks in a dollarized and Oil Exporting Country ecuador
Documents de Treball ( IREA ), 2013Co-Authors: Maria Lorena Mari Del Cristo, Marta GomezpuigAbstract:This paper investigates the fiscal sustainability of an emerging, dollarized, Oil-Exporting Country: Ecuador. A cointegrated VAR approach is adopted in testing, first, if the intertemporal budget constraint is satisfied in Ecuador and, second, in identifying the permanent and transitory shocks that affect a fiscal policy characterized by inertia and a heavy dependence on Oil revenues. Following confirmation that the debt-GDP ratio does not place the Ecuadorian budget under any pressure, we reformulate the model and identify two forces that push the fiscal system out of equilibrium, namely, economic activity and Oil revenues implemented in the government budget. We argue that Ecuador needs to recover control of its monetary policy and to promote the diversification of its economy in order that non-Oil tax revenues can replace Oil revenues as a pushing force. Finally, we calculate quarterly elasticities of tax revenues with respect to Ecuador’s GDP and that of eight Eurozone countries. We illustrate graphically how the Eurozone countries with low positive or high negative elasticities’ levels suffer debt problems after the crisis. This finding emphasizes the pressing need for Ecuador to strengthen the connection between its tax revenues and output, and also suggests that the convergence of these elasticities in the Eurozone might contribute to the success of an eventually future fiscal union.
-
fiscal sustainability and fiscal shocks in a dollarized and Oil Exporting Country ecuador
Documents de Treball ( IREA ), 2013Co-Authors: Maria Lorena, Maria Lorena Mari Del Cristo, Marta GomezpuigAbstract:This paper investigates the fiscal sustainability of an emerging, dollarized, Oil-Exporting Country: Ecuador. A cointegrated VAR approach is adopted in testing, first, if the intertemporal budget constraint is satisfied in Ecuador and, second, in identifying the permanent and transitory shocks that affect a fiscal policy characterized by inertia and a heavy dependence on Oil revenues. Following confirmation that the debt-GDP ratio does not place the Ecuadorian budget under any pressure, we reformulate the model and identify two forces that push the fiscal system out of equilibrium, namely, economic activity and Oil revenues implemented in the government budget. We argue that Ecuador needs to recover control of its monetary policy so as to promote the diversification of its economy and in order that non-Oil tax revenues can replace Oil revenues as a pushing force. Finally, we calculate the quarterly elasticities of tax revenues with respect to Ecuador’s GDP and that of eight Eurozone countries. We illustrate graphically how the Eurozone countries with lower and non-cyclic elasticities suffer debt problems after the crisis. This finding emphasizes the pressing need for Ecuador to strengthen the connection between its tax revenues and output, and also suggests that the convergence of these elasticities in the Eurozone might contribute to the success of an eventually future fiscal union.
