THE DUTCH DISEASE EFFECT IN HIGH VS LOW OIL DEPENDENT COUNTRIES

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 ve... Mehr ...