Sentences with phrase «oil price shock»

Kristianstad's energy makeover is rooted in oil price shocks of the 1980s, when the city could barely afford to heat its schools and hospitals.

«Now that we are in an extraordinary situation, hit by the biggest oil price shock in 30 years, it would be crazy if we didn't have an expansionary fiscal policy,» she told Bloomberg.

«Historically, geopolitical events rarely cause a sustained recession, and other contributing factors, such as oil price shocks, play a more predominant role.

The emergence of significantly higher inflation and the traumas of the first OPEC oil price shock undermined the demand orientated Keynesian framework and cleared the way for a different strand of theory to emerge — one which had its origins in the classical idea of «money neutrality».

August 30, 2016 — The effects of large oil price shocks on the Canadian economy are complex, as is the best response of monetary policy, but getting it wrong can be very costly, according to a new...

Britain's economic recovery could be knocked off course by a series of 1970sstyle oil price shocks, Chris Huhne warned yesterday.

An isolated oil price shock or two can be readily absorbed by other segments of the economy, but the type of steep, sustained rise in oil prices that we've seen in recent years becomes a cost factor that has to be passed on.

As a result, the SECV was not forced to raise power costs during the 1970s oil price shocks, in contrast to other electricity suppliers around the world.

The Nexus between Nigerian Government Spending and Domestic Output in the Presence of Long - Term Crude Oil Price Shock: A Conditional Unrestricted Equilibrium Correction Model Approach

Japan had shaken off the effects of the second OPEC oil price shock and its cars and electronic goods were flooding world markets.

The oil price shock is occurring against a backdrop of solid and more broadly - based growth in Canada in recent quarters.

«The adverse impact of the oil price shock in Alberta and continued robust price growth in Toronto and Vancouver suggest a risk of correction in these markets.»

As the economy continues to adjust to the oil price shock, investment in the energy sector appears to be bottoming out.

While the near - zero balance of opinion suggests that labour market slack remains, the indicator has continued to improve gradually since the oil price shock, as conditions in affected regions have bottomed out.

The spending behaviour of firms in regions hit by the oil price shock is also recovering, supported by improving commodity prices and business confidence.

The BOS indicator illustrates the slowdown in business activity in late 2014 triggered by the oil price shock.

Although we knew that lowering the policy rate could worsen vulnerabilities related to household debt, we also knew that it would counter the risk that growth would crater and lessen the probability that the oil price shock would trigger financial stability risks.

We estimate that the oil price shock, on its own, took about 1 1/4 percentage points off GDP growth in the first half of the year.

In Canada, the economy's structural adjustment to the oil price shock continues, but is proving to be uneven.

Only in the event of a large supply shock (such as the oil price shocks of the 1970s) might any difference in response across the different frameworks become apparent.

Bear markets have been incited by everything from geopolitical conflicts to stagflation to oil price shocks to financial crises.

For some time we have been talking about how the oil price shock that began in 2014 set in motion a complex series of adjustments throughout the economy, including a significant restructuring in the oil and gas sector.

When the oil price shock hit, one of the reasons that we adjusted so quickly to it was because we cut interest rates to cushion the blow, and the exchange rate moved enough to give us a more rapid adjustment than we would otherwise have had.

Those of you who can recall our experience with the oil price shock of the 1970s will remember the subsequent effort required to bring inflation under control.

We have always said that the adjustment to the oil price shock would be a complex process.

While the Bank is projecting a rebound in trend labour productivity growth from 0.6 per cent in 2016 to 1.1 per cent in 2020, this mainly reflects a cyclical pickup in investment spending from the lows witnessed following the oil price shock.

Although the Canadian economy has made good progress adjusting to the oil price shock, material slack in our economy remains, in contrast to the US economy, which is approaching its productive capacity.

Among those reporting tighter conditions, some businesses cited second - round effects of the oil price shock, while others referenced firming rates following the US election.

The oil price shock increases both downside risks to the inflation profile and financial stability risks.

Then the oil price shock hit.

The results partly reflect an expected recovery of activity in regions at the epicentre of the oil price shock, where businesses now anticipate at least some sales growth following a period of decline.

Plus, the oil price shock itself is of uncertain size.

The drag from the oil price shock and related spillovers is gradually dissipating, and demand growth remains steady in less - affected regions.

The second cyclical factor that has had a major impact on our exports and business investment is the protracted recovery of the US economy — the slowest in the postwar period.10 When oil and other commodity prices rose in the years before the 2014 oil price shock, so did our dollar, making our non-commodity exports to the United States less competitive and reinforcing the ongoing shift from manufacturing to services.

For the first time since the oil price shock, firms reported little change, on balance, in the intensity of labour shortages compared with a year ago (Chart 6, red line).

Firms often cited sales growth and expansion plans as the main reasons for increasing staff levels, particularly in regions less exposed to the oil price shock.

«Rates are of course extraordinarily low,» Poloz said, adding the bank cut rates by 50 basis points in 2015 to counteract the effects of the oil price shock.

The oil price shock changed the outlook dramatically.

«With the exception of Chad, which already had a program in place with the IMF prior to the oil price shock, we have not received any new request for financial assistance from sub-Saharan African oil exporters,» the IMF spokeswoman added.

He added that the budget's objectives among others are to deliver inclusive growth to Nigerians; create significant number of jobs to reduce unemployment and underemployment; building an economy that is less vulnerable to oil price shocks by creating resistant divested income base and creating efficient Public Financial Management System; as well as fostering macroeconomic stability conducive for growth e.g. achieving GDP growth rate of 4.2 % and increasing investors confidence.

The political boundaries shifted then because of the economic crisis of the 1970s, the oil price shock, stagflation, the collapse of Bretton Woods and the collapse of Keynesian techniques of demand management.

Reduced petroleum demand in developed nations could make their economic growth less vulnerable to oil price shocks, the report states.

«I picture an oil price shock within a couple of years,» says Campbell.

Previous jolts to the economy, like the Gulf War and the oil price shocks of the 1970s, were surprises.

Putting all its eggs in the truck / SUV / crossover market, it will once again be an oil price shock away from getting caught out.

The summer edition of the report suggested businesses on the Prairies will be hurt as the oil price shock spreads across other sectors.

«Black Gold: The End of Bretton Woods and the Oil Price Shocks of the 1970s.»

In early 2015, for example, ToTEM was showing how the oil price shock would play out and the downside risk to projected inflation became unacceptably large.

A sharp decline from the rate achieved in the years immediately following the oil price shocks of the early 1970s.

Government energy RD&D budgets in IEA member countries increased sharply after the oil price shocks of the 1970s.