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trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can …
Persistent link: https://www.econbiz.de/10012129945
trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can …
Persistent link: https://www.econbiz.de/10012063640
trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can …
Persistent link: https://www.econbiz.de/10011785688
trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil price shocks can … asymmetrischen Reaktion auf einen ansonsten symmetrischen Schock. In diesem Zusammenhang zeigen wir, dass Ölpreisschocks langfristige …
Persistent link: https://www.econbiz.de/10011787351
In a VAR model of the US, the response of the relative price of durables to a monetary contraction is either flat or mildly positive. It significantly falls only if narrowly defined as the ratio between new house and nondurables prices. These findings survive three identification strategies and...
Persistent link: https://www.econbiz.de/10010515460
The business cycle is alive and well, and real variables respond to it more or less as they always did. Witness the Great Recession. In ation, in contrast, has gone quiescent. This paper studies the sources of this disconnect using VARs and an estimated DSGE model. It finds that the disconnect...
Persistent link: https://www.econbiz.de/10012241237
milder macroeconomic responses to a monetary policy shock estimated with our VAR in presence of high uncertainty. A version …
Persistent link: https://www.econbiz.de/10011781355
a new Keynesian dynamic stochastic general equilibrium (DSGE) model to study how an oil price shock impact macroeconomic … aggregates in an oil-rich emerging economy. We consider a positive oil price shock to uncover the extent to which oil price … oil price shock, reveal evidence of Dutch disease and the operation of the Harrod-Balassa-Samuelson effect. We find a …
Persistent link: https://www.econbiz.de/10012297450
The role that the price of oil plays in economic analysis in central banks as well as in financial markets has evolved over time. Oil is not seen anymore just as a input to production but also as a barometer of global economic activity as well as a financial asset. A high frequency structural...
Persistent link: https://www.econbiz.de/10012299083
This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for the interaction between the oil market and the...
Persistent link: https://www.econbiz.de/10013081472