Cashin, Paul; Mohaddes, Kamiar; Raissi, Mehdi; Raissi, … - International Monetary Fund (IMF) - 2012
We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2–2011Q2, to discriminate between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic...