-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model …. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply …

This paper investigates the global macroeconomic consequences of country-specific oil-supply shocks. Our contribution … markets can be used to identify country-specific oil-supply shocks. On the empirical side, estimating the GVAR-Oil model for … 27 countries/regions over the period 1979Q2 to 2013Q1, we show that the global economic implications of oil-supply shocks …

-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model …. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply …

-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model …. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply …

supply shocks that have been used as external or internal instruments for VAR models …

can be used to identify country-specific oil-supply shocks. On the empirical side, estimating the GVAR-Oil model for 27 … countries/regions over the period 1979Q2 to 2013Q1, we show that the global economic implications of oil-supply shocks (due to … negative shock to oil supply in Saudi Arabia leads to an immediate and permanent increase in oil prices, given that the loss in …

This paper investigates the global macroeconomic consequences of country-specific oil-supply shocks. Our contribution … markets can be used to identify country-specific oil-supply shocks. On the empirical side, estimating the GVAR-Oil model for … 27 countries/regions over the period 1979Q2 to 2013Q1, we show that the global economic implications of oil-supply shocks …