Oil Shocks and Aggregate Macroeconomic Behavior: The Role of Monetary Policy: A Reply

By Ben S. Bernanke, M. Gertler, Mark W. Watson. 2004

190 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/565f20991d4d0aa1ecaaf2106b1e21aa44adc002

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Citations in the corpus

Structural oil price shocks and policy uncertainty (2013, background): “Bernanke et al. (2004) assign monetary policy an important role in explaining the transmission of oil price shocks to the economy.”
Oil, Automobiles, and the U.S. Economy: How Much Have Things Really Changed? (2011, background): “Bernanke, Gertler, and Watson (2004) responded, reestimating their model in a way that attempts to deal with this critique and finding results only slightly less strong than in their original paper.”
Do Energy Prices Respond to U.S. Macroeconomic News? A Test of the Hypothesis of Predetermined Energy Prices (2008, background): “1 See Bernanke, Gertler, and Watson (1997, 2004); Blanchard and Galı́ (2010); Davis and Haltiwanger (2010); Davis and Kilian (forthcoming); Edelstein and Kilian (2007, 2009); Hamilton and Herrera (2004); Herrera (2009); Herrera and Pesavento (2009); Leduc and Sill (2004); Lee and Ni (2002); Kilian…”
The Supply Shock Explanation of the Great Stagflation Revisited (2008, unknown): “To investigate this issue, we reprise the structural 59 In their reply to Hamilton and Herrera, Bernanke et al. (2004) consider an alternative model and find that the response of monetary policy to an oil shock still accounts for roughly half of the shock’s real impact.”
Are the responses of the U.S. economy asymmetric in energy price increases and decreases (2011, background): “The net increase measure also plays a central role in VAR analyses of the role of monetary policy in propagating energy price shocks (see, e.g., Bernanke, Gertler, and Watson (1997, 2004), Hamilton and Herrera (2004), Herrera and Pesavento (2009)).”
Oil price shocks and policy uncertainty: New evidence on the effects of US and non-US oil production (2017, background): “Bernanke et al. (2004) argue that monetary policy influences the transmission of oil price shocks to the economy.”
OIL PRICE SHOCKS, SYSTEMATIC MONETARY POLICY, AND THE “GREAT MODERATION” (2009, methodology): “Although the magnitude of this systematic component is a matter of debate [see Hamilton and Herrera (2004) and Bernanke et al. (2004)], the current investigation into the sources of the “Great Moderation” suggests two questions that call for further analysis.”