This paper investigates the global macroeconomic consequences of country-specific oil-
supply shocks. Our contribution is both theoretical and empirical. On the theoretical side, we …

In this paper, we revisit the debate on the relationship between oil price shocks and stock
market returns by replicating the quantile-on-quantile (QQ) regression model for the US …

Estimated responses of real oil prices and US gross domestic product (GDP) to oil supply
disruptions vary widely. We show that most variation is attributable to differences in …

The international oil market has the tendency to affect any economy either developed or
emerging. We examine the effect of structural oil shocks on the returns of developed and …

The recent plunge in oil prices has brought into question the generally accepted view that
lower oil prices are good for the US and the global economy. In this paper, using a quarterly …

Energy Price Shocks Page 1 1 Energy Price Shocks November 18, 2014 Lutz Kilian University
of Michigan CEPR Abstract: Oil price shocks have been a recurring phenomenon since the …

Oil price shocks are thought to have played a prominent role in US economic activity. In this
paper, we employ Bayesian methods with a dynamic stochastic general equilibrium model …

This paper explores similarities and differences between the run-up of oil prices in 2007-08
and earlier oil price shocks, looking at what caused the price increase and what effects it …

The paper proposes a new measure of exogenous oil supply shocks. The timing, the
magnitude, and the sign of this measure may differ greatly from current state-of-the-art …

Many empirical studies on the oil price shock effects on the economies of oil‐exporting
countries have assumed a linear relationship between the shocks and macroeconomic …