This paper examines the dynamic relationship between the price of crude oil and the CPI
energy price sub-index in Canada and the US using a Markov-regime switching model and …

This paper surveys the literature on the relationship between oil prices and the
macroeconomy in order to explain why high oil prices over the past three years do not …

This paper uses a structural vector autoregression model to investigate the inflationary
effects of oil prices. Rather than simply infer the oil price changes as oil supply shocks, we …

The economic implications of oil price shocks have been extensively studied since the
1970s. Despite this huge literature, no dynamic stochastic general equilibrium model was …

This paper examines the impact of oil price shocks and attempts to explain why the rise in oil
prices up to 2008 had little impact on the world economy. It makes three main arguments …

Since the oil price shock of 1973–74, researchers have waged an intense debate regarding
the connection between the US energy sector and national income. Studies examining the …

Increases in oil prices have been held responsible for recessions, periods of excessive
inflation, reduced productivity and lower economic growth. In this paper, we review the …

While the oil price shocks of 1970s can be explained by pure supply factors, starting in the
1980s oil prices increasingly began to come under a different type of pressure. Oil prices …

This paper proposes a simple but comprehensive structural vector autoregressive model to
examine the underlying factors of oil price dynamics. The distinguishing feature is to …

This paper presents some evidence of an asymmetric effect of oil price spikes upon the US
economy. It appears that price increases may be associated with reductions in economic …