Fracking, China and the Global Economy

Pedro Ferreira and Alberto Trejos

No 777, FGV EPGE Economics Working Papers (Ensaios Economicos da EPGE) from EPGE Brazilian School of Economics and Finance - FGV EPGE (Brazil)

Abstract: We develop an intertemporal model of the international economy, where tradeable intermediate goods are produced with capital, labor and hydrocarbons, and used in the production of non-tradeable consumption and investment goods. The model is calibrated to 176 countries, grouped according to their characteristics. We conduct simulations about key events that are currently reshaping the world e.g., fracking and China's new model of development. The model reproduces closely the recent fall in oil prices and delivers results about the impact on global output and consumption, but also about the propagation to different countries through terms of trade and capital accumulation.

Date: 2016-05-04
New Economics Papers: this item is included in nep-cna, nep-dge and nep-ene
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Persistent link: https://EconPapers.repec.org/RePEc:fgv:epgewp:777

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