countries/regions over the period 1979Q2 2011Q2, to discriminatebetween supply-driven and demand-driven oil-price shocks and to … economicconsequences 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 …

-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 …

-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 …

-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 …

-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 …