This paper examines the advantages and drawbacks of alternative methods of estimating oil supply and oil demand … conclusion that the one-month oil supply elasticity is close to zero, which implies that oil demand shocks are the dominant …

crisis period. Individual economy estimation results, however, show that the Joneses effect varies across economies …

We propose a new instrument for estimating the price elasticity of gasoline demand that exploits systematic differences … response to an aggregate oil price shock. Time-varying estimates do not support the view that the gasoline demand elasticity … rose to about -0.2 in 2015-16, but has remained stable since 2016. Gasoline demand is more responsive in states with lower …

the time of the year. Most of the reversion back to oil occurs in spring and summer when demand for gas to heating and …

We propose a theory of indebted demand, capturing the idea that large debt burdens by households and governments lower … aggregate demand, and thus natural interest rates. At the core of the theory is the simple yet under-appreciated observation … lead to indebted household demand, pushing down natural interest rates. Moreover, popular expansionary policies—such as …

-entry dynamics of quantities, but no post-entry dynamics of markups. This suggests that shifts in demand play an important role in … successful entry, but that firms do not use dynamic manipulation of markups as an instrument to shift demand. We structurally … advertising to acquire new customers and thereby shift demand and increase sales. In the second, they use temporarily low markups …