The halving of oil prices, which happened in a short period between late 2014 and the first months of 2015, has generated major terms of trade losses for oil exporting countries. Even if the oil producing sector normally employs a small group of workers and oil export revenues tend to be concentrated in a few firms and in government accounts, these relative price changes have economy-wide effects and significant distributive impacts. This paper describes...
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2017/03/29
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Documento de trabalho sobre pesquisa de políticas
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WPS8016
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1
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1
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2017/03/29
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Disclosed
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The distributive impact of terms of trade shocks
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oil
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