Exogenous Oil Supply Shocks: How Big Are They and How Much Do They Matter for the U.S. Economy?

By Lutz Kilian. Review of Economics and Statistics, 2008

947 citations recorded by the source corpus.

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

View Paper: https://www.semanticscholar.org/paper/56fba2afc1399010391da3c95c210c6b14e1973f

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Economics and Econometrics

In Renewable Energy, Sustainability and the Environment

Citations in the corpus

The directional volatility connectedness between crude oil and equity markets: New evidence from implied volatility indexes (2016, background): “9 SeeMaghyereh (2004),Maghyereh andAl-Kandari (2007), Kilian (2008), Nandha and”
Dynamic correlation between stock market and oil prices: The case of oil-importing and oil-exporting countries (2011, neutral): “…1983; Burbridge and Harrison, 1984; Gisser and Goodwin, 1986; Hamilton, 1988a, 1998b; Mork et al., 1994; Lee et al., 1995; Ferderer, 1996; Hondroyiannis and Papapetrou, 2001; Papapetrou, 2001; Jones et al., 2004; Huntington, 2007; Kilian, 2008a; Jimenez-Rodriguez, 2009; Berument et al., 2010.”
The Effects of Oil Price Shocks on Stock Market Volatility: Evidence from European Data (2014, methodology): “Kilian, L. (2008). Exogenous oil supply shocks: How big are they and how much do they matter for the U.S. economy? Review of Economics and Statistics, 90, 216-240. Kilian, L. (2009). Not all oil price shocks are alike: Disentangling demand and supply shocks in the crude oil market. American Economic”
Narrative Sign Restrictions for SVARs (2018, positive): “In any case Barsky and Kilian (2002) and Kilian (2008) have argued against including the 1973 episode in the list of exogenous events, noting that the Arab oil embargo may have been an endogenous response to global demand and US inflationary pressures, and that there is no evidence of OPEC oil…”
The impact of uncertainty shocks on the volatility of commodity prices (2018, background): “28 Kilian, L. (2008). “Exogenous oil supply shocks: How big are they and how much do they matter for the US economy?” Review of Economics and Statistics, 90(2), 216-240.”
Asymmetric and nonlinear pass-through of crude oil prices to gasoline and natural gas prices (2014, neutral): “There is also evidence to suggest the existence of asymmetric and nonlinear links between oil price and economic growth, even though they become weaker in recent years (e.g., Hamilton, 2003; Kilian, 2008; Lardic and Mignon, 2008).”
Shock Restricted Structural Vector-Autoregressions (2017, methodology): “We use the same data used in Kilian (2009) and the largest common sample period across Kilian (2008) and Kilian (2009) (1973:02-2004:09) for the analysis.”
The Impact of Oil Price Shocks on the U.S. Stock Market (2009, neutral): “Recent work by Kilian (2008c) has shown that the effects of demand and supply shocks in the crude oil market on U.S. macroeconomic aggregates are qualitatively and quantitatively different, depending on whether the oil price increase is driven by oil production shortfalls, by a booming world…”
Return and volatility transmission between world oil prices and stock markets of the GCC countries (2011, background): “Previous empirical investigations including, among others, Hamilton (1983), Cunado and Perez de Garcia (2005), and Kilian (2008) have reported that oil price shocks has a causal link on recessions, inflation, economic growth, and other economic variables in most developed and emerging countries,…”
Are the responses of the U.S. economy asymmetric in energy price increases and decreases (2011, background): “In addition, economic theory does not predict that β = 0 (see, e.g., Edelstein and Kilian (2007), Kilian (2008a)).”
The Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market (2013, background): “In this regard, Kilian (2008) observes that world oil production has been close to its full capacity level since 1990, which has made it more di¢ cult to raise production in the short run in response to oil demand shocks compared to the 1980s.”