Traditional theory of the consumer explains development of demand through changes in prices and income. Consumer tastes …

and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggregate demand shock, and a … precautionary oil demand shock. The paper's aim is to model macroeconomic consequences of these shocks within a new Keynesian DSGE …

demand shock and to assess how the effects of various demand and supply shocks change in the presence of oil storage facility …. We find that business-cycle driven oil demand shocks are the most important drivers of U.S. oil price fluctuations during … supply shocks in driving oil price fluctuations. Our results also confirm that a change in the composition of shocks helps …

permanent oil supply shocks hitting the world economy at an unspecified future date. For modest-sized shocks and conventional …

of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and …. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand …

of housing demand. Our model generalizes previous applied econometric work by incorporating realistic features of the … for capturing salient features of housing demand observed in the PSID. After estimating the model we use it to simulate …

in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and …. Because there is heterogeneity among buyers in the valuation of a given house, sellers set prices strategically. When demand …