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 …

The relationship between oil price shocks and US macroeconomic fluctuations advocated by
Hamilton (1983) broke down in the 1980s amidst a new regime of highly volatile oil price …

Hui Guo and Kevin L. Kliesen activity:(i) the change in the dollar price of crude oil (relative
price change) and (ii) the increase in uncertainty about future prices (volatility). It should be …

We explore the effect of the sharp and sustained decline after June 2014 in the global price
of crude oil (and hence in the US price of gasoline) on US real GDP growth. Our analysis …

The impact of oil price shocks on the macroeconomy has received a great deal of attention
since the 1970s. Initially, many empirical studies found a significant negative effect between …

We model an open economy where macroeconomic variables fluctuate in response to oil
supply shocks, as well as aggregate demand and supply shocks generated domestically …

The last twenty years have seen a number of oil-price changes with macroeconomic effects.
Oilprice increases spur inflation and produce recessions. Oil price declines dampen …

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 …

We develop and use a medium-sized DSGE model of the US economy to evaluate how US
real GDP responds to oil price movements that originate from global oil supply shocks. The …

This paper studies the effects of oil price shocks in the last 30years on the Brazilian and
American inflation rate and rhythm of economic activity. The Brazilian and the United States …