… been persistently confronted with large oil price shocks over the last … oil crises in the 1970s
and 1980s and the oil shock stemming from the Gulf War in the early 1990s. While those oil …

… literature on oil shocks to provide quantitative estimates of how large an effect oil price changes
… Economic theory suggests that oil shocks lead to higher inflation, a contraction in output, …

… oilprice shocks that causes recessions, since their model implies that an alternative policy
could have greatly mitigated the effect of oil shocks. … that the largest effect of an oil-price shock …

… oil shocks on the rapid fall in oil prices at the end of 2008 and 2014, as well as the effects
of different oil shocks on … We also find a larger response of the real price of oil to oil-specific …

… the presence of large and systematic valuation effects in response to these shocks for
broad aggregates of oil importers and oil exporters. Valuation effects manifest themselves in …

… The results are not sensitive to these ordering assumptions, as we document below in the
context of a larger system. In figure 2 we report results for four alternative indicators of the state …

… the effects of structural oil shocks on macroeconomic uncertainty using a large panel dataset
of 45 economies. Our study is unique in that we analyse the effect of structural oil shocks on …

… The most simple production function-based representation of the economy cannot account
for the large effects found in the historical data, and researchers have proposed a range of …

… , oil shocks have had a negative effect on stock returns, regardless of whether the oil shock
… price movements and the net oil price increase, have larger effects than do oil shocks in the …

… relative to the value of the energy they use, even relatively small changes in the relative
price of oil can have potentially large effects on demand. A similar reallocation may occur within …