This paper presents estimates of the effects that government regulation of diesel and petrol prices has on GDP growth. Theory suggests that when supply curves are convex, a decrease in the regulatory price has a larger effect on output than a tantamount increase. Motivated by this theoretical...

Ensuring a stable supply of critical minerals at reasonable prices is essential for the clean energy transition. The security of supply of critical minerals is particularly susceptible to geopolitical risk. In this paper, we use constant and time-varying parameter local projection (TVP-LP)...

This paper explores the impact of education quality on economic growth in 37 OECD countries. We developed a new dataset that combines mixed-frequency data, including low-frequency data (every three years) from the Programme for International Student Assessment (PISA) and annual data from the...

We thank the Department of Industry, Science and Resources (DISR) for the opportunity to contribute to the development of a national critical minerals strategy. We agree with the DISR that Australia has a narrow window of opportunity to capitalize on the very high demand and prices of critical...

Global uncertainty shocks are associated with a sharp decline in global inflation, growth and interest rate. From 1981 to 2014, global financial uncertainty forecasts 18.26% and 14.95% of the variation in global growth and global inflation, respectively. Global uncertainty shocks exhibit more...

This paper investigates the time-varying dynamics of global stock volatility, commodity prices, and domestic output and consumer prices. The main empirical findings of this paper are: (i) stock volatility and commodity price shocks impact each other and the economy in a gradual and endogenous...

The 2019 World Bank report on West Africa's coast indicates that over $3.8 billion is lost annually due to environmental issues, like erosion, flooding, and pollution. In this paper, the newly introduced environmental performance index (EPI) is incorporated into the neoclassical growth model to...

This paper studies the impact of oil price shocks on fiscal policy and real GDP in Oman using new unexplored data. We find that an oil price shock explains around 22% and 46% of the variation in the government revenue and GDP, respectively. Decomposing the government revenue and GDP further into...

An important economic paradox in the economic literature is that countries with abundant natural resources are poor in terms of real gross domestic product per capita. This paradox, known as the ‘resource curse’, is contrary to the conventional intuition that natural resources help to...

We decompose global stock market volatility shocks into financial originated shocks and nonfinancial originated shocks. Global stock market volatility shocks arising from financial sources reduce substantially more global outputs and inflation than non-financial sources shocks. Financial stock...