Following four years of relative stability at around $105 per barrel, oil prices have declined
sharply since June 2014. This paper presents a comprehensive analysis of the sources of …

This paper studies how changes in oil supply expectations affect the oil price and the
macroeconomy. Using a novel identification design, exploiting institutional features of OPEC …

Using a time-varying parameter structural vector autoregression with stochastic volatility
(TVP-SVAR-SV) model, we decompose the structural shocks of oil price fluctuations into four …

A number of economic studies have used a proxy for world real economic activity derived
from shipping costs. This measure turns out to depend on a normalization that has …

We study the impact of oil price uncertainty (OPU) on macroeconomic activity. We construct
a new measure of OPU by extracting information on oil markets from 50 newspapers around …

This study investigates the asymmetric impacts of oil price and component shocks on
inflation in the context of BRICS countries. We firstly decompose the oil price change into …

In this paper we determine oil supply shock, oil aggregate demand shock, and oil specific
demand shock from global crude oil market using a SVAR model. We find that there are …

Fluctuations in crude oil prices are widely considered to reflect changes in global economic
conditions. However, recent extreme events such as the COVID-19 outbreak and the Russia …

The perception of the pass-through of oil price shocks on the real and financial spheres has
undergone considerable evolution with the emergence of a literature devoted to the sources …

Oil prices contain information on global shocks of key relevance for monetary policy
decisions. We propose a novel approach to identify these shocks at the daily frequency in a …