publication . Article . 2015

The Dutch Disease Effect in a High vs Low Oil dependent countries

Allegret, Jean-Pierre; Benkhodja, Mohamed Tahar;
Open Access English
  • Published: 19 Nov 2015
  • Publisher: HAL CCSD
  • Country: France
<jats:p>&lt;p class="ESRBODY"&gt;To investigate the main impacts of the recent increase of oil price on oil exporting economies, we estimate a DSGE model for a sample of 16 oil exporting countries (Algeria, Argentina, Ecuador, Gabon, Indonesia, Kuwait, Libya, Malaysia, Mexico, Nigeria, Oman, Russia, Saudi Arabia, United Arab Emirates, and Venezuela) over the period from 1980 to 2010, except for Russia where our sample begins in 1992. In order to distinguish between high-dependent and low-dependent countries, we use two indicators: the ratio of fuel exports to total merchandise export and the ratio of oil exports to GDP. We verify if the first group is more sensi...
free text keywords: Monetary Policy, DSGE model, oil exporting economy, Dutch disease, JEL: E - Macroeconomics and Monetary Economics/E.E3 - Prices, Business Fluctuations, and Cycles, JEL: F - International Economics/F.F4 - Macroeconomic Aspects of International Trade and Finance, JEL: Q - Agricultural and Natural Resource Economics • Environmental and Ecological Economics/Q.Q4 - Energy/Q.Q4.Q40 - General, [SHS.ECO]Humanities and Social Sciences/Economics and Finance

0.5 . Following Devereux et al. (2006), the inverse of the elasticity of the intertemporal

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