Social Sciences
3 years ago

Oil price shocks lead to asymmetric economic changes in resource-dependent countries.

SSRN Electronic Journal
, , (Monetary Policy Peculiarities in Countries with Natural Resources, with Significant Changes in Terms of Trade)
Elizaveta Dobronravova

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The article examines how economies react to changes in global oil prices, focusing on Russia and other oil-exporting countries. Positive and negative oil price shocks were analyzed, revealing that these shocks lead to different effects on economic indicators like output, exchange rates, and inflation. The study found that there are asymmetrical changes in these indicators when facing positive and negative trade shocks.