Global Implications of Lower Oil Prices
Business & Finance, Economics, Money & Monetary Policy, Macroeconomics
| Author: | Aasim Mr. Husain, Rabah Mr. Arezki, Peter Mr. Breuer, Vikram Mr. Haksar, Thomas Mr. Helbling, Paulo Medas, Martin Sommer | ISBN: | 9781513572277 |
| Publisher: | INTERNATIONAL MONETARY FUND | Publication: | July 14, 2015 |
| Imprint: | INTERNATIONAL MONETARY FUND | Language: | English |
| Author: | Aasim Mr. Husain, Rabah Mr. Arezki, Peter Mr. Breuer, Vikram Mr. Haksar, Thomas Mr. Helbling, Paulo Medas, Martin Sommer |
| ISBN: | 9781513572277 |
| Publisher: | INTERNATIONAL MONETARY FUND |
| Publication: | July 14, 2015 |
| Imprint: | INTERNATIONAL MONETARY FUND |
| Language: | English |
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
