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La crisis financiera; Islandia; Poul Thomsen; Uso del Servicio para shocks; la República Kirguisa; Malawi; Pakistán; Redes de protección social; Lucha contra la pobreza; Precios de las materias primas; América Latina y el shock; Nuevas políticas en América Latina; Perspectivas de Asia; Bosnia y Herzegovina; Notas breves.

Banks and Banking --- Exports and Imports --- Financial Risk Management --- Macroeconomics --- Public Finance --- Financial Crises --- Energy: Demand and Supply --- Prices --- National Government Expenditures and Welfare Programs --- Commodity Markets --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Economic & financial crises & disasters --- Public finance & taxation --- International economics --- Finance --- Financial crises --- Social assistance spending --- Commodity prices --- Fuel prices --- Oil consumption --- Expenditures, Public --- Consumption --- Economics --- Banks and banking --- Iceland

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Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption, it would be possible to argue that not all the effects of a price increase are negative. Climate change concerns have been on the rise in recent years and fossil fuel consumption is generally viewed as one of the main causes behind it. Thus this paper explores whether higher oil prices contribute to lowering oil intensities (that is, oil consumption per unit of gross domestic product). The findings show that following an increase in oil prices, OECD countries tend to reduce oil intensity. However, the same result does not hold for Latin America (and more generally for middle-income countries) where oil intensities appear to be unaffected by oil prices. The paper also explores why this is so.

Climate change --- Crude oil --- Energy --- Energy Demand --- Energy Production and Transportation --- Environment --- Environment and Energy Efficiency --- Fossil --- Fossil fuel --- Fossil fuel consumption --- Gross domestic product --- Macroeconomics and Economic Growth --- Markets and Market Access --- Net oil --- Oil --- Oil consumption --- Oil prices --- Oil Refining & Gas Industry

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Global financial crisis, Iceland, Poul Thomsen, IMF work program, IMF Shocks Facility, Kyrgyz Republic; Malawi; Exogenous Shocks Facility, Pakistan loan, IMF and social safety nets, gains against poverty in jeopardy, commodity prices slump, Latin America withstands shocks, Improved policies help Latin America, Asian Regional Outlook, Bosnia and Herzegovina, news briefs.

Banks and Banking --- Exports and Imports --- Financial Risk Management --- Macroeconomics --- Public Finance --- Financial Crises --- Energy: Demand and Supply --- Prices --- National Government Expenditures and Welfare Programs --- Commodity Markets --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- International Investment --- Long-term Capital Movements --- Economic & financial crises & disasters --- Public finance & taxation --- International economics --- Finance --- Financial crises --- Social assistance spending --- Commodity prices --- Fuel prices --- Oil consumption --- Expenditure --- National accounts --- Expenditures, Public --- Consumption --- Economics --- Banks and banking --- Capital movements --- Crisis management --- Iceland

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This paper highlights that the performance of the world economy in 1984 turned out to be considerably better than had been expected at the beginning of the year. Output grew robustly in the industrial countries, especially in the United States and Japan; inflation continued to decline; and developing countries saw a noteworthy improvement both in their balance-of-payments position and in their domestic growth performance. Fears that the debt situation might deteriorate did not materialize.

Banks and Banking --- Investments: Energy --- Exports and Imports --- Inflation --- Macroeconomics --- Trade: General --- Commodity Markets --- Energy: General --- Price Level --- Deflation --- Interest Rates: Determination, Term Structure, and Effects --- Current Account Adjustment --- Short-term Capital Movements --- Macroeconomics: Consumption --- Saving --- Wealth --- Energy: Demand and Supply --- Prices --- International economics --- Investment & securities --- Finance --- Public finance & taxation --- Oil --- Commodity prices --- Real interest rates --- Oil prices --- Commodities --- Financial services --- Oil consumption --- National accounts --- Exports --- Petroleum industry and trade --- Interest rates --- Balance of payments --- Consumption --- Economics --- United States

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Energy shortages, climate change, and the debate over national security have thrust oil policy to the forefront of American politics. How did Americans grow so dependent on petroleum, and what can we learn from our history that will help us craft successful policies for the future? In this timely and absorbing book, Paul Sabin challenges us to see politics and law as crucial forces behind the dramatic growth of the U.S. oil market during the twentieth century. Using pre-World War II California as a case study of oil production and consumption, Sabin demonstrates how struggles in the legislature and courts over property rights, regulatory law, and public investment determined the shape of the state's petroleum landscape. Sabin provides a powerful corrective to the enduring myth of "free markets" by demonstrating how political decisions affected the institutions that underlie California's oil economy and how the oil market and price structure depend significantly on the ways in which policy questions were answered before World War II. His concise and probing analysis casts fresh light on the historical relationship between business and government and on the origins of contemporary problems such as climate change and urban sprawl. Incisive, engaging, and meticulously researched, Crude Politics illuminates an important chapter in U.S. environmental, legal, business, and political history and the history of the American West.

Petroleum industry and trade --- Energy policy --- Political aspects --- History --- Government policy --- alternative energy. --- american west. --- big business. --- california oil. --- california. --- climate change. --- crude oil. --- energy. --- environment. --- environmental issues. --- environmentalism. --- foreign policy. --- fossil fuels. --- frontier. --- global warming. --- government policy. --- government regulation. --- government. --- land rights. --- middle east. --- mineral rights. --- national security. --- nonfiction. --- oil consumption. --- oil economy. --- oil market. --- oil policy. --- oil production. --- petroleum. --- property rights. --- renewable energy. --- saudi arabia. --- terrorism. --- urban sprawl.