This has policy implications for economic policy and in particular fiscal policy management. The motivation for this study is to examine the effect of oil price shock on fiscal policy in the country. Using structural vector autoregression (SVAR) methodology, the effects of crude oil price ...
This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for the interaction between the oil market and the...
We show that all three specifications allow the fiscal authority to act as the main actor in propagating and amplifying the effects of the oil price shocks to the rest of the economy. When an oil shock hits the economy, its first round effect operates through oil fund transfers to the ...
This paper analyses the impact of transmission of international oil prices and domestic oil price pass-through policy on major macroeconomic variables in India with the help of a macroeconomic policy simulation model. Three major channels of transmission of oil price shock viz. import channel, price...
Therefore, in this paper, we analyze the impact of oil price shocks on current account imbalances within a currency union. Differences in institutions, especially labor market institutions and trade result in an asymmetric reaction to an otherwise symmetric shock. In this context, we show that oil...
Monetary Policy Response to Oil Price Shocks How should monetary authorities react to an oil price shock? This paper argues that a meaningful trade-off between stabilizing inflation and the welfare re... Jean-Marc Natal - 《Journal of Money Credit & Banking》 被引量: 85发表: 2012年 The Resp...
Asymmetric effects of oil price shocks in oil‐exporting countries: the role of institutions Many empirical studies on the oil price shock effects on the economies of oil-exporting countries have assumed a linear relationship between the shocks and... S Moshiri - 《Opec Energy Review》 被引量:...
The economic and social costs of the COVID-19 pandemics concern the society, policy makers, and all financial markets participants and individual investors. In this study, we analyze the time-frequency connectedness between the recent COVID-19 outbreak, crude oil price volatility shock, the economi...
However, different conclusions were found by the literature in which some papers found a negative effect of oil price shocks on stock returns (Papapetrou 2001; Driesprong et al. 2008; Yousaf and Hassan, 2019), while others reached to a positive impact (Boubaker and Raza 2017; Wang and Wang...
While the introduction of different oil shock specifications is never rejected, positive oil price changes, net oil price increases and oil price volatility are the oil shock definitions which contribute to a better description of the impact of oil on output growth. In addition, models with ...