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Oil Price Shocks and Labor Market Fluctuations

Ordóñez Monfort, Javier - 2010

We examine the impact of real oil price shocks on labor market flows in the U.S. We first use smooth transition regression (STR) models to investigate to what extent oil prices can be considered as a driving force of labor market fluctuations. Then we develop and calibrate a modified version of...

Persistent link: https://www.econbiz.de/10013139698

Oil price shocks and labor market fluctuations

Ordóñez, Javier; Sala, Hector; Silva, José Ignacio - In: The energy journal 32 (2011) 3, pp. 89-118

Persistent link: https://www.econbiz.de/10009309719

Are the Job Flow Responses to Oil Price Shocks Asymmetric?

Malikov, Emir - 2015

This paper investigates the dynamic responses of employment flows to oil price shocks for the U.S. Manufacturing sector in the post-1973 period. Using the latest available data and state-of-the-art econometric methods of estimation and inference, I formally test for asymmetries in responses of...

Persistent link: https://www.econbiz.de/10013036114

The Effects of Oil Price Shocks on Job Reallocation

Herrera, Ana Maria - 2012

This paper investigates the impact of oil price innovations on job creation and job destruction in U.S. manufacturing. We estimate a simultaneous equation model that nests symmetric and asymmetric responses of job flows to oil price shocks. We first explore whether the responses of job creation...

Persistent link: https://www.econbiz.de/10013096371

Energy Price Shocks, Unemployment, and Monetary Policy

Gnocato, Nicolò - 2023

, weighing more on the jobless due to non-homotheticity and the inability to perfectly insure against unemployment spells. Rising … energy prices induce a novel precautionary saving motive: the consumption losses upon unemployment are increased …, and prevent workers from becoming more exposed to the shock through unemployment …

Persistent link: https://www.econbiz.de/10014354473

Understanding the Large Negative Impact of Oil Shocks

Wen, Yi - 2014

This paper offers a plausible explanation for the close link between oil prices and aggregate macroeconomic performance in the 1970s. Although this link has been well documented in the empirical literature, standard economic models are not able to replicate this link when actual oil prices are...

Persistent link: https://www.econbiz.de/10012709883

The microeconomics of macroeconomic asymmetric sectoral evidence

Korenok, Oleg (contributor); … - 2004 - [Elektronische Ressource]

There is now considerable evidence that business cycle variation in output and employment in the U.S. diÞers in expansions and contractions. We present nonparametric evidence that asymmetries are strongest in durable goods manufacturing. In a Markov switching framework, we find two leading...

Persistent link: https://www.econbiz.de/10001934438

The role of oil price shocks in causing U.S. recessions

Kilian, Lutz; Vigfusson, Robert J. - 2016

Although oil price shocks have long been viewed as one of the leading candidates for explaining U.S. recessions, surprisingly little is known about the extent to which oil price shocks explain recessions. We provide a formal analysis of this question with special attention to the possible role...

Persistent link: https://www.econbiz.de/10011421672

Monetary policy rules and oil price shocks

Kamps, Christophe; Pierdzioch, Christian - 2002

This paper studies the relative performance of alternative monetary policy rules in the presence of oil price shocks in a small open economy optimizing model. Our analysis shows that it is important to distinguish between alternative price indices (CPI, core CPI, and GDP deflator) when modeling...

Persistent link: https://www.econbiz.de/10011474645

Oil prices and consumption across countries and U.S. states

De Michelis, Andrea; Ferreira, Thiago R. T.; … - 2019

We study the effects of oil prices on consumption across countries and U.S. states, by exploiting the time-series and cross-sectional variation in oil dependency of these economies. We build two large datasets: one with 55 countries over the years 1975-2018, and another with all U.S. states over...

Persistent link: https://www.econbiz.de/10012126165

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