demand and supply shocks. The results show that higher macroeconomic uncertainty, as measured by higher world industrial …

positive oil supply shocks in the second half of 2014. Others have suggested that a major shock to oil price expectations … expected oil production that occurred prior to July 2014. The remaining oil price decline is accounted for by a shock to oil … price expectations in July 2014 that lowered the demand for oil inventories and a shock to the demand for oil associated …

the shock. In particular, we find that adverse shocks to Iranian oil output are neutralized in terms of their effects on … contrast, a negative shock to oil supply in Saudi Arabia leads to an immediate and permanent increase in oil prices, given that … supply shock has significant adverse effects for the global economy with real GDP falling in both advanced and emerging …

after the shock). We then re-examine the effects of low oil prices on the US economy over different sub-periods using …

strong impact on both world and European energy markets. In particular, lower U.S. gas and coal prices have changed relative …

demand and supply shocks. The results show that higher macroeconomic uncertainty, as measured by higher world industrial …

strong impact on both world and European energy markets. In particular, lower U.S. gas and coal prices have changed relative …