We assess how demand and supply shocks (identified via the Blanchard and Quah (1989) SVAR approach) in 14 OECD … (confirmed in the panel analysis). On the other hand, a supply shock has a more mixed effect … countries affect mark-ups. We find that individual responses of markups to demand shocks push down the markup for most countries …

, (ii) aggregate demand and (iii) oil-specific demand shock, by proposing the Information Criterion model averaging as a … demand shock, and more persistent following an oil specific demand shock … is pervasive in the empirical results. In this work I revisit, in face of model uncertainty, the role of (i) oil supply …

We compare risk sharing in response to demand and supply shocks in four types of currency unions: segmented markets; a … all domestic demand shocks (deleveraging, fiscal consolidation), while a capital market union is necessary to share supply … banking union and, in the presence of supply shocks, from a capital market union.Institutional subscribers to the NBER working …