02119cas a2200325 a 4500 AALejournalIMF021632 230101c9999 xx r poo 0 0eng d 18.00 USD 9781513573359 1018-5941 BD-DhAAL BD-DhAAL Mati, Amine. Asymmetric Non-Commodity Output Responses to Commodity Price Shocks / Amine Mati, Monique Newiak, James Wilson. Washington, D.C. : International Monetary Fund, 2021. 1 online resource (38 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 focuses on identifying potential asymmetric responses of non-commodity output growth in times of positive and negative commodity terms-of-trade shocks. Using a sample of 27 oil-exporting countries and a panel VAR method, the study finds: 1) the short-and medium-run response of real non-commodity GDP growth is larger for negative shocks than positive shocks; 2) this asymmetry is more pronounced in countries with weak pre-existing fundamentals-high levels of public debt and low levels of international reserves-which also serve to amplify the volatility of the response; 3) the output response to positive shocks is stronger following a sustained period of CTOT increases, while the impact of negative shocks on output are more damaging when they occur after a period of CTOT decline. Mode of access: Internet Commodity Markets imf Foreign Exchange imf Informal Economy imf Price Level imf Underground Econom imf Newiak, Monique. Wilson, James. IMF Working Papers; Working Paper ; No. 2021/163 Full text available on IMF http://elibrary.imf.org/view/journals/001/2021/163/001.2021.issue-163-en.xml IMF e-Library