Yoshizaki, Yasunori - In: Economics Bulletin 31 (2011) 3, pp. 2641-2652
Based on the structural VAR model of the global crude oil market proposed by Kilian(2009), this article investigates the causes for wild fluctuations in oil prices since the mid-2000s. A main contribution of the study is to compare the effects of changes in oil price on three major economies,...