01640cas a2200265 a 4500 AALejournalIMF005444 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451871111 1018-5941 BD-DhAAL BD-DhAAL Tazhibayeva, Kamilya. Fiscal Policy and Economic Cycles in Oil-Exporting Countries / Kamilya Tazhibayeva, Aasim Husain, Anna Ter-Martirosyan. Washington, D.C. : International Monetary Fund, 2008. 1 online resource (21 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper empirically assesses the impact of oil price shocks on the underlying non-oil economic cycle in oil-exporting countries. Panel VAR analysis and the associated impulse responses indicate that in countries where the oil sector is large in relation to the economy, oil price changes affect the economic cycle only through their impact on fiscal policy. Once fiscal policy changes are removed, oil price shocks do not have a significant independent effect on the economic cycle. Mode of access: Internet Husain, Aasim. Ter-Martirosyan, Anna. IMF Working Papers; Working Paper ; No. 2008/253 Full text available on IMF http://elibrary.imf.org/view/journals/001/2008/253/001.2008.issue-253-en.xml IMF e-Library