Growth in an oil abundant economy: The case of Venezuela

This paper has been presented at DEGIT-X held in México 2005.-- Revised: 2008-08.

Can the change in the composition of the US GDP explain the Great Moderation? A test via oil price shocks

The paper investigates whether the growing GDP share of the services sector can contribute to explain the great moderation in the US. We identify and analyze three oil price shocks and use a SVAR analysis to measure their economic impact on the US economy at both the aggregate and the sectoral level. We find mixed support for the explanation of the great moderation in terms of shrinking oil shock volatilities and observe that increases (decreases) in oil shock volatilities are contrasted by a weakening (strengthening) in their transmission mechanism. Across sectors, services are the least affected by any oil shock. As the contribution of services to the GDP volatility increases over time, we conclude that a composition effect contributed to moderate the conditional volatility to oil shocks of the US GDP.

La industria de los hidrocarburos: el sector upstream y la operación de lifting de un FPSO

Es un trabajo que pretende dar a conocer de una manera sencilla uno de los sectores de gran importancia en la industria de los hidrocarburos el “UPSTREAM”, que es tan solo el primer bloque de esta industria tan compleja y tan importante a nivel mundial. De esta misma forma dar a conocer los pasos que se toman en una operación de “Lifting” de un FPSO así como la importancia del rol de egresados de náutica en este tipo de operaciones."