that oil price shocks are much less contractionary and inflationary than they used to be.We show furthermore that the … decoupling of the US economic performance from oil price shocks cannot be explained by "good luck" alone, but that structural …

. We discuss implications for theoretical models and for policy responses to energy price shocks. …

subjected to a number of shocks(internal and external), which can be destabilising, produce volatility and make itdifficult to … achieve and maintain economic stability. Consequently, variouspolicies are used to help deal with the various shocks that may …

economy. We use a two-stage non-recursive VAR model to identify monetary shocks. We construct then various overall monetary …