/1991, speculative demand shocks also played a role. Third, it is shown that temporary oil price hikes influence economic decisions that … demand shocks can emerge that to date appear to have been overlooked. …

regularities by developing a new firmbased trade model wherein managers are risk averse. Higher volatility induces the reallocation …Using firm and industry data, we establish two facts: (i) Uncertainty about demand conditions not only reduces export … are more affected by higher industry-wide expenditure volatility than the least productive exporters. We rationalize these …

This paper proposes an explanation of the shifts in the volatility of exchange rate returns that relies on standard … may lead agents to focus excessively on a subset of fundamental variables. As a result, exchange rate volatility is mainly … determined by the dynamics of this subset of fundamentals. As agents switch between models the nominal exchange rate volatility …

has roots in fundamentals. Higher market risk predicts greater idiosyncratic earnings volatility as well as dispersion and …From 1963 through 2015, idiosyncratic risk (IR) is high when market risk (MR) is high. We show that the positive …

We analyze the demand and supply characteristics of the Indian telecommunications market, in order to assess the … potential effectiveness of universal access policies in developing countries. We provide some empirical evidence on the supply … and demand characteristics, using a small time-series-cross-section dataset on Indian States. We suggest that the price …

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 …

mainly the imposition of a highly unrealistic prior for the global impact price elasticity of oil supply. Once identification … uncertainty about the global price elasticity of oil supply is accounted for by specifying a prior more in line with extraneous …

and demand. Supply disruptions turn out to be a bigger factor in historical oil price movements and inventory accumulation … uncertainty about the identifying assumptions themselves. We use this approach to revisit the importance of shocks to oil supply … a smaller factor than implied by earlier estimates. Supply shocks lead to a reduction in global economic activity after …

With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions …, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan … Statistical Areas, we estimate a simultaneous boom-bust system for house prices, housing supply and subprime lending. The model …

imperfectly implemented policies may lead to detrimental environmental outcomes due to supply side responses. We use the … future sales to decline, would supply more of their resource between the announcement of the Acid Rain Program and its … implementation; moreover, the incentive to increase supply would be stronger for owners of high-sulfur coal. This would, all else …