This paper identifies supply and demand shocks that are specific to the oil-market, and separates them from economy …-wide shocks that affect the demand for many asset classes, including oil. The shocks are identified by the sign and magnitude of …

/smoothing demand, but supply shocks contribute substantially to both the oil-price volatility and the magnitude of oil shocks mainly …-specific technology shocks and supply shocks that can be imprecisely forecasted by noisy news shock. These shocks explain most of the U …

We present, for the first time in the literature, empirical estimates of the supply and demand curves for the ocean …, which appears to have a positive and significant impact on supply. This supports the view that the outlook that shipowners …, through their impact on the supply side. Our results further enhance the behavioral economics literature and provide important …