Sectoral responses to oil price shocks help determine how these shocks are transmitted
throughout the economy. Textbook treatments of oil price shocks often emphasize negative …

We replicate and update the results of Kilian (2009) to include the period since the financial
crisis. We separate the drivers of the price of crude oil shocks into three components: oil …

Most of the studies about the macroeconomic consequences of oil price shocks have been
focused on US aggregate data. In contrast to these studies, this paper empirically assesses …

Most of the studies existing in theoretical and empirical understanding of the
macroeconomic consequences of oil price shocks have been focused on US aggregate …

This paper reports on developments in theoretical and empirical understanding of the
macroeconomic consequences of oil price shocks since 1996, when the US Department of …

This paper examines the relationship between shocks to the global crude oil market and
commodity prices, and whether recent changes in US renewable energy policy have altered …

Research on oil markets conducted during the last decade has challenged long-held beliefs
about the causes and consequences of oil price shocks. As the empirical and theoretical …

This paper investigates how explicit structural shocks that characterize the endogenous
character of oil price changes affect stock-market returns in a sample of eight countries …

This paper proposes a simple but comprehensive structural vector autoregression (SVAR)
model to examine the underlying factors of oil price dynamics by explicitly incorporating the …

Shocks to the real price of oil may reflect oil supply shocks, shocks to the global demand for
all industrial commodities, or demand shocks that are specific to the crude oil market. Each …