Gauging the Impact of Higher Capital and Oil Costs on Potential Output:
The 2007-2009 period has been characterised by an oil shock followed by a financial crisis. Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact under di...
Gespeichert in:
| Beteilige Person: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | Englisch |
| Veröffentlicht: |
Paris
OECD Publishing
2010
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| Schriftenreihe: | OECD Economics Department Working Papers
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| Schlagwörter: | |
| Links: | https://doi.org/10.1787/5kmbm8030z6h-en |
| Zusammenfassung: | The 2007-2009 period has been characterised by an oil shock followed by a financial crisis. Higher oil prices and the prospect of higher borrowing costs are likely to reduce the productive potential of OECD economies. The present study provides illustrative numerical estimates of the impact under different scenarios using a stylised model based on a production function. In a scenario where real borrowing costs for firms return to their 1991-2001 average as opposed to staying at the level at which the capital stock in place at the end of 2007 had been invested, the impact on equilibrium GDP could be in the order of 2%. If the real oil price stays at $80 per barrel, up from the $50 average at which the capital stock in place in 2007 had been invested, the impact on equilibrium GDP could be in the order of 1% |
| Umfang: | 1 Online-Ressource (14 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5kmbm8030z6h-en |
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| indexdate | 2025-01-11T15:45:51Z |
| institution | BVB |
| language | English |
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| spellingShingle | Cournède, Boris Gauging the Impact of Higher Capital and Oil Costs on Potential Output Economics |
| title | Gauging the Impact of Higher Capital and Oil Costs on Potential Output |
| title_alt | Une évaluation de l'impact de l'augmentation des coûts du capital et du pétrole sur le potentiel de production |
| title_auth | Gauging the Impact of Higher Capital and Oil Costs on Potential Output |
| title_exact_search | Gauging the Impact of Higher Capital and Oil Costs on Potential Output |
| title_full | Gauging the Impact of Higher Capital and Oil Costs on Potential Output Boris Cournède = Une évaluation de l'impact de l'augmentation des coûts du capital et du pétrole sur le potentiel de production / Boris Cournède |
| title_fullStr | Gauging the Impact of Higher Capital and Oil Costs on Potential Output Boris Cournède = Une évaluation de l'impact de l'augmentation des coûts du capital et du pétrole sur le potentiel de production / Boris Cournède |
| title_full_unstemmed | Gauging the Impact of Higher Capital and Oil Costs on Potential Output Boris Cournède = Une évaluation de l'impact de l'augmentation des coûts du capital et du pétrole sur le potentiel de production / Boris Cournède |
| title_short | Gauging the Impact of Higher Capital and Oil Costs on Potential Output |
| title_sort | gauging the impact of higher capital and oil costs on potential output |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5kmbm8030z6h-en |
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