Using a comprehensive global dataset, we outline stylized facts characterizing relationships
between crude oil prices and macroeconomic developments across the world. Approaching …

Many of the quarterly oil price increases observed since 1985 are corrections to even bigger
oil price decreases the previous quarter. When one looks at the net increase in oil prices …

How much does real gross domestic product (GDP) respond to unanticipated changes in the
real price of oil? Commonly used censored oil price vector autoregressive models suggest a …

This paper tests the three leading specifications of asymmetric and possibly nonlinear
feedback from the real price of oil to US industrial production and its sectoral components …

A common view in the literature is that systematic monetary policy responses to the inflation
caused by oil price shocks have been an important source of aggregate fluctuations in the …

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 …

Oil shocks are generally acknowledged to have important effects on both economic activity
and macroeconomic policy. The aim of this paper is to investigate how oil price shocks affect …

This study investigates the effects of oil price shocks on three measures of oil exporters' and
oil importers' external balances: total trade balance, oil trade balance and non-oil trade …

In this paper, we assess the impact and repercussions of oil price fluctuations on the UK
economy. We use an empirical strategy which allows us to decompose oil price changes …

This paper examines how oil price shocks affect the output growth of selected MENA
countries that are considered either net exporters or net importers of this commodity, but are …