Estimating the effects of oil price shockson the Kazakh economy

This paper explores the role of oil for the Kazakh economy. In order to assess thedegree of volatility the oil price features, it, firstly, discusses the literature on oil price behaviour. Secondly, it analyzes the effect of oil price declines on key macroeconomicvariables such as real GDP, inflation and real exchange rates using vectorautoregressive (VAR) models. In this respect, the paper deviates from a large number of papers on oil price effects as it considers a transition rather than a developed economy and an oil exporting rather than an oil importing country. The key findings to emerge from this paper are, first, that the price of oil is influenced by a large number of factors, which results in a considerable degree of volatility. Secondly, all variables considered in theVAR model exhibit a strong negative significant reaction on oil price declines, and, thirdly, a standard linear VAR model is appropriate for capturing the Kazakh oil-macro relationship.Oil price, VAR-Models, oil exporting economy.

An Institutional Risk Analysis of the Kazakh Economy

This paper investigates the impact of institutions or structural policies on the volatilityof income or GDP per capita in transition countries and in Kazakhstan in particular. Inthe first part of the paper we compare Kazakhstans institutional framework with othertransition economies based on a broad range of indicators. Using factor analytical toolsto reduce the dimensionality of the indicator space we find that in general Kazakhstansinstitutional quality ranks among the lowest of the 24 transition countries investigated.Reform progress was mainly achieved in infrastructure. In the second part of the paperwe employ state-of-the-art Bayesian Model Averaging (BMA) to identify institutionaland macroeconomic policy areas that have the strongest impact on output volatility intransition economies. The analysis shows that good legal and administrative institutionscan help smooth output volatility. Moreover, we also find that inflation and currentaccount volatility and to a smaller extend exchange rate fluctuations are importantdeterminants of output volatility

International stocks and flows of students and researchers reconstructed from ORCID biographies

This document describes a dataset of estimated bilateral flows and stocks of students and researchers (including some other types of high-skilled workers) for more than 200 countries (and territories) since 1990. The data is derived by analysing education and employment histories of more than 650 thousand individuals registered with ORCID. Comparison with independent data sources supports technical validity and representativeness of this data. The dataset provides new measures of the geography of a subset of high-skilled labour and opens opportunities for exploring hypotheses related to migration and agglomeration, impact of immigration policy, scientific production and development, academic mobility, and brain drain

Exploring the world of Economics through RePEc data

This document describes the data available through RePEc and related services: CitEc, CollEc, EDIRC, IDEAS, Genealogy and EconPapers. The document is purely descriptive, and is intended as a guide to some of the data available through RePEc on authors, institutions, collaborations, and networks

International stocks and flows of students and researchers reconstructed from ORCID biographies

This document describes a dataset of estimated bilateral flows and stocks of students and researchers (including some other types of high-skilled workers) for more than 200 countries (and territories) since 1990. The data is derived by analysing education and employment histories of more than 650 thousand individuals registered with ORCID. Comparison with independent data sources supports technical validity and representativeness of this data. The dataset provides new measures of the geography of a subset of high-skilled labour and opens opportunities for exploring hypotheses related to migration and agglomeration, impact of immigration policy, scientific production and development, academic mobility, and brain drain

Immigration barriers and net brain drain

Education and employment histories of more than 650 thousand scientists contained in ORCID data can shed light on the patterns of brain drain and brain gain in over 200 countries (and territories) over the last 40 years. The incidence of brain drain and brain gain is positively correlated across space and time. More restrictive immigration policy towards skilled workers and students is associated with lower levels of skilled emigration (brain drain), consistent with competition of domestic and foreign scientists for a limited number of domestic academic posts. However, after controlling for time and country heterogeneity, increased barriers to immigration are associated with a relatively larger effect on the inflow of skilled immigrants (brain gain), so more restrictive policy is associated with net brain drain

Immigration barriers and net brain drain

Education and employment histories of more than 650 thousand scientists contained in ORCID data can shed light on the patterns of brain drain and brain gain in over 200 countries (and territories) over the last 40 years. The incidence of brain drain and brain gain is positively correlated across space and time. More restrictive immigration policy towards skilled workers and students is associated with lower levels of skilled emigration (brain drain), consistent with competition of domestic and foreign scientists for a limited number of domestic academic posts. However, after controlling for time and country heterogeneity, increased barriers to immigration are associated with a relatively larger effect on the inflow of skilled immigrants (brain gain), so more restrictive policy is associated with net brain drain

Exploring the world of Economics through RePEc data

This document describes the data available through RePEc and related services: CitEc, CollEc, EDIRC, IDEAS, Genealogy and EconPapers. The document is purely descriptive, and is intended as a guide to some of the data available through RePEc on authors, institutions, collaborations, and networks

Estimating the effects of oil price shockson the Kazakh economy

This paper explores the role of oil for the Kazakh economy. In order to assess thedegree of volatility the oil price features, it, firstly, discusses the literature on oil price behaviour. Secondly, it analyzes the effect of oil price declines on key macroeconomicvariables such as real GDP, inflation and real exchange rates using vectorautoregressive (VAR) models. In this respect, the paper deviates from a large number of papers on oil price effects as it considers a transition rather than a developed economy and an oil exporting rather than an oil importing country. The key findings to emerge from this paper are, first, that the price of oil is influenced by a large number of factors, which results in a considerable degree of volatility. Secondly, all variables considered in theVAR model exhibit a strong negative significant reaction on oil price declines, and, thirdly, a standard linear VAR model is appropriate for capturing the Kazakh oil-macro relationship

Computer testbed for experiments on coordination

Experimental studies of coordination games consistently show that large groups are unable to escape the inefficient equilibrium. Weber (2005) modifies experimental design and obtains large groups that coordinate on the efficient equilibrium. This feature is incorporated into a computer testbed. After examining both individual and social learning, it is found that experimental results cannot be described with a simple learning process. A discussion on possible explanations concludes the project