cause since the 1970s has been from a global oil demand shock. This paper examines whether the macroeconomic responses to a … global oil demand shock are greater than to oil price shocks caused by other oil market factors. Estimating a four … oil demand shock are greater than from other oil market shocks. Policymakers should not necessarily be concerned with the …

precautionary demand for oil driven by uncertainty about future supplies. A two-stage identification procedure is used. First, daily … changes in the futures-spot spread proxy for precautionary demand shocks and the path of oil prices is estimated. This …

disentangle demand and supply shocks in the global crude oil market and investigate their effects on the real price of natural gas … attributed to structural supply and demand shocks in the global crude oil market …