The oil market is undergoing fundamental change. New technologies are increasing the
supply of oil from old and new sources, while rising concerns over the environment are seeing …

We examine the existing fiscal policy paradigm in commodity-exporting countries. First, we
argue that its centerpiece—the permanent income hypothesis (PIH)—is not consistent with …

Nearly all countries in the Middle East and Central Asia have pledged to contain greenhouse
gas emissions as part of the Paris Agreement. The purpose of this paper is to identify the …

This chapter examines the dynamics of adjustment to changes in aid inflows in a stochastic
general equilibrium model of a small and open economy. In particular, it explores the …

We develop a tractable open-economy new-Keynesian model with two sectors to analyze the
short-term effects of aid-financed fiscal expansions. We distinguish between spending the …

This dissertation is comprised of three essays in monetary and international macroeconomics.
The first essay, titled “A Dynamic Model of Exogenous Exchange Rate Pass-Through”, …

… , Nemat and Rauza, whose regular guidance and support let me reach such a point; and
my brothers, Tokhir and Shukhrat, whose encouragement motivated me to accomplish this. …

In recent decades, the Middle East and North Africa region (MENA) has experienced more
frequent and severe conflicts than in any other region of the world, exacting a devastating …