scholarly journals A TEST OF TWO OPEN-ECONOMY THEORIES: OIL PRICE RISE AND THE NETHERLANDS

2017 ◽  
Author(s):  
Kavous Ardalan
Keyword(s):  
The Netherlands ◽  
Open Economy ◽  
Oil Price ◽  
Price Rise

Price formation and the inflationary process in a small open economy (The Netherlands)

De Economist ◽  
1975 ◽  
Vol 123 (4) ◽  
pp. 680-722 ◽  
Author(s):  
W. Driehuis ◽  
A. van Heeringen ◽  
P. de Wolff
Keyword(s):  
The Netherlands ◽  
Open Economy ◽  
Small Open Economy ◽  
Price Formation

Introduction: Changing Business Systems in the Netherlands in the Twentieth Century

2010 ◽  
Vol 84 (4) ◽  
pp. 737-750 ◽  
Author(s):  
Keetie Sluyterman
Keyword(s):  
Twentieth Century ◽  
The Netherlands ◽  
Open Economy ◽  
Small Open Economy ◽  
Economic Activities ◽  
Business Systems ◽  
Business System ◽  
National Business Systems ◽  
National Business ◽  
Over Time

The organization of economic activities differs among countries and over time. Differences between nations have been highlighted in academic discussions about national business systems and the varieties of capitalism. This group of articles about the Dutch business system contributes to these debates by offering new empirical research from the perspective of a small, open economy and highlighting changes that have occurred during the second half of the twentieth century. While they discuss developments in the Netherlands, the articles also explore general themes, including corporate governance, cartels, and the organization of multinational companies. While the articles show that business systems are in constant flux, comparisons between the Dutch and U.S. systems seem to suggest that each moves at a different pace. A particularly striking aspect of the Dutch stories is the large impact of developments abroad.

scholarly journals Macroeconomic policy under the conditions of oil shocks

2004 ◽  
Vol 47 (3-4) ◽  
pp. 167-190
Author(s):  
Marko Klasnja
Keyword(s):  
Open Economy ◽  
Alternative Fuels ◽  
Structural Changes ◽  
Policy Instruments ◽  
Macroeconomic Policy ◽  
Developed Countries ◽  
Oil Price ◽  
Oil Shocks ◽  
Price Instability ◽  
Monetary Order

This paper represents a non-technical and eclectic attempt at synthesizing and presenting fundamental features, challenges and conclusions of the niche of economic theory focusing on the relationship between macroeconomic policy and oil shocks. Results of more than five-decade long research and vivid practice can be summarized in the following: Relationship between an oil price shock and economic performance, most notably inflationary record, has weakened over time. This is predominantly due to the fact that macroeconomic management has become less "accommodative" of the oil price, i.e. monetary and fiscal authorities have stopped using policy instruments as a direct response the shock; Polygon for exercising macroeconomic policy during and after the oil price hikes has been consciously and considerably narrowed since the practice has shown that macroeconomic stimuli are not an adequate replacement for real adjustment; Redefining of institutional ambient, reshaping of the global monetary order, implementation of programs for energy-conservation and alternative fuels utilization, as well as a decrease in dependence on imported oil on the part of developed countries, have together resulted in oil shocks being less penetrative in the open economy; Structural changes in the world oil market, most notably diminishing strength of OPEC and the introduction of sophisticated trade instruments, have contributed to risk diversification, whereby oil price instability has been somewhat reduced.

scholarly journals Globalization, Endogenous Oil Price Shocks and Chinese Economic Activity

2017 ◽  
Vol 22 (2) ◽  
pp. 39-64
Author(s):  
Gulzar Khan ◽  
Adiqa Kiani ◽  
Ather Maqsood Ahmed
Keyword(s):  
Open Economy ◽  
Aggregate Demand ◽  
Small Open Economy ◽  
Oil Prices ◽  
Chinese Economy ◽  
Oil Price ◽  
Economic Conditions ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Macroeconomic Activity

Using a structural vector autoregressive model, this study investigates the extent to which international oil price shocks have influenced the Chinese economy over the period 1991–2014. Given China’s intensified macroeconomic activity and its increasing demand for energy resources, we also examine the endogenous response of international oil prices to economic conditions in the country. To that end, we derive and empirically estimate a small open-economy New Keynesian model for China and the rest of the world. Our results show that the Chinese economy is relatively more sensitive to global economic conditions than to domestic policy actions. Global productivity shocks appear to be the most important variable causing Chinese macroeconomic activity through trade, where oil prices impact aggregate demand negatively.

OPEC discussions could cap further oil price rise

2018 ◽  
Keyword(s):  
Oil Price ◽  
Price Rise ◽  
Content Type

Headline INTERNATIONAL: OPEC talks could cap further oil upside

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