We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2–2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic...

We employ a set of sign restrictions on the generalized impulse responses of a Global VARmodel, estimated for 38 countries/regions over the period 1979Q2 2011Q2, to discriminatebetween supply-driven and demand-driven oil-price shocks and to study the time profile oftheir macroeconomic effects...

This paper studies the impact of commodity terms of trade (CToT) volatility on economic growth (and its sources) in a sample of 69 commodity-dependent countries, and assesses the role of Sovereign Wealth Funds (SWFs) and quality of institutions in their long-term growth performance. Using annual...