The paper introduces a new measure that jointly identifies and disentangles the oil supply
shocks of crude oil into exogenous and endogenous, by quantifying the positive and …

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 …

Using novel measures that decompose oil supply shocks into its exogenous supply (driven
by exogenous geopolitical events in OPEC countries) and endogenous supply (driven by …

This paper analyzes the response of international oil producers to demand-induced
changes in the price of crude oil during 1975–2011, focusing on potential differences …

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 …

Drivers of real oil prices have been explored extensively in the literature with little
consensus. Using a new identification scheme based on forecast error variance, we identify …

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 identifies supply and demand shocks that are specific to the oil-market, and
separates them from economy-wide shocks that affect the demand for many asset classes …

In recent years, our understanding of the nature of energy price shocks and their effects on
the economy has evolved dramatically. Only a few years ago, the prevailing view in 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 …