-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model …. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply …-driven oil price shock, with real GDP increasing in both advanced and emerging market oil-importing economies, output declining …

countries/regions over the period 1979-2011Q2, to discriminate - between supply-driven and demand-driven oil-price shocks and to …-consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic …-lived fall in economic activity in response to a supply-driven surge in oil prices, the impact is positive for energy …

This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses …

. This flight from quality was triggered by a fall in aggregate demand, was more acute when households could substitute …

negative credit supply shock applied to SMEs has an adverse effect on economic activity, and this impact is amplified in …

options for reducing fossil fuel use in India. Among the most effective options is ramping up the existing coal tax. Annually … increasing the tax by INR 150 ($2.25) per ton of coal from 2017 to 2030 avoids over 270,000 air pollution deaths, raises revenue …

, commodity prices fall; weaker commodity prices depress domestic demand via lower real income; real GDP in emerging markets … the U.S. dollar) currency depreciation of emerging market economies. We also show the negative effect on emerging markets …

We test whether foreign demand matters for local house prices in the US using an identification strategy based on the … proxy for a strong and exogenous shift in foreign demand, we show that house prices rise disproportionately more in … experienced the strongest foreign demand shocks and the biggest drop in affordability between 2000 and 2017. Our findings suggest …

This paper separates the roles of demand for housing services and belief about future house prices in a house price … cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality … structures in producing housing services. I find that the impact of demand for housing services on house prices is amplified by a …