scholarly journals Oil Prices, Production and Inflation in the Selected EU Countries: Threshold Cointegration Approach

2015 ◽  
Vol 14 ◽  
pp. 71 ◽  
Author(s):  
Andrzej Geise ◽  
Mariola Piłatowska
Keyword(s):  
Oil Prices ◽  
Threshold Cointegration ◽  
Eu Countries

scholarly journals CHANGES OF EU COUNTRIES POSITIONS IN INTERNATIONAL TRADE OF MINERAL FUELS IN 2006–2015

2017 ◽  
Vol 16 (4) ◽  
pp. 151-159
Author(s):  
Dariusz Staszczak
Keyword(s):  
International Trade ◽  
United Kingdom ◽  
Trade Balance ◽  
Trade Deficit ◽  
Oil Prices ◽  
Eu Countries ◽  
Eu Member States ◽  
The Third ◽  
Oil Shock ◽  
The Eu

This paper analyzes changes of exports, imports and trade balance in mineral fuels, lubricants, and related materials (named fuels in this article) of EU member states in 2006–2015. Fuels are specific commodities because the most of the EU countries are dependent on fuel imports. Moreover, trade balance in fuels is important for EU countries because of its significant importance for trade balance in all goods. Author illustrated a dominating position of net importer of fuels in this period. There were the following most important net importers of fuels in 2015: Germany, France, Italy, Spain, United Kingdom, Belgium, Austria and Poland. In 2006, Germany was also the first net importer but Italy was the second one and France the third one. Poland obtained the ninth position in 2006. Denmark was the EU net exporter of fuels in the researched period. Moreover, trade deficit in fuels of most EU net importers improved, i.e. decreased in 2015 in comparison to the situation in 2006 because of the lower oil prices and undertaking of ecological innovations in production, including the agriculture. In the researched analyzed period, the biggest imports and trade deficits in fuels of the majority of EU countries were in 2008. Such a situation was connected with the third oil shock.

What Does Rent Give to Federal Budget (on the Russia's Budget Dependence upon "Oil Dollars")

2004 ◽  
pp. 51-69 ◽  
Author(s):  
E. Sharipova ◽  
I. Tcherkashin
Keyword(s):  
Oil And Gas ◽  
Strong Dependence ◽  
Oil Prices ◽  
Federal Budget ◽  
Oil And Gas Industry ◽  
Gas Industry ◽  
Resource Rent ◽  
Tax Legislation ◽  
Russian Economy ◽  
The Government

Federal tax revenues from the main sectors of the Russian economy after the 1998 crisis are examined in the article. Authors present the structure of revenues from these sectors by main taxes for 1999-2003 and prospects for 2004. Emphasis is given to an increasing dependence of budget on revenues from oil and gas industries. The share of proceeds from these sectors has reached 1/3 of total federal revenues. To explain this fact world oil prices dynamics and changes in tax legislation in Russia are considered. Empirical results show strong dependence of budget revenues on oil prices. The analysis of changes in tax legislation in oil and gas industry shows that the government has managed to redistribute resource rent in favor of the state.

The Instruments of the Stabilization Fund: The Experience and Prospects

2004 ◽  
pp. 65-75 ◽  
Author(s):  
Mst. Afanasiev
Keyword(s):  
Economic Growth ◽  
Oil Prices ◽  
Federal Budget ◽  
Future Generations ◽  
The World

Сreation of the stabilization fund has become the main feature of the Russian federal budget for 2004. This instrument provides the opportunity to reduce the dependence of budget incomes on the fluctuations of oil prices. The accepted model does not consider the world experience in building of such funds as the "funds for future generations", and the increase of other revenues from the growing oil prices as well. That can lead to shortening and immobilization of the financial basis of economic growth.

Monetary policy and the effect of the transfer of oil prices to inflation

2020 ◽  
pp. 41-50
Author(s):  
Ph. S. Kartaev ◽  
I. D. Medvedev
Keyword(s):  
Monetary Policy ◽  
Inflation Targeting ◽  
Dynamic Models ◽  
Oil Prices ◽  
Oil Price ◽  
Oil Price Shocks ◽  
Negative Effects ◽  
Price Shocks ◽  
Policy Regime ◽  
The Impact

The paper examines the impact of oil price shocks on inflation, as well as the impact of the choice of the monetary policy regime on the strength of this influence. We used dynamic models on panel data for the countries of the world for the period from 2000 to 2017. It is shown that mainly the impact of changes in oil prices on inflation is carried out through the channel of exchange rate. The paper demonstrates the influence of the transition to inflation targeting on the nature of the relationship between oil price shocks and inflation. This effect is asymmetrical: during periods of rising oil prices, inflation targeting reduces the effect of the transfer of oil prices, limiting negative effects of shock. During periods of decline in oil prices, this monetary policy regime, in contrast, contributes to a stronger transfer, helping to reduce inflation.

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