Oil Price Shocks and the U.S. Economy: Where Does the Asymmetry Originate?

By Nathan S. Balke, Stephen P. A. Brown, Mine K. Yiicel. 2002

302 citations recorded by the source corpus.

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

View Paper: https://www.semanticscholar.org/paper/6523076ea1936a101535d67493124b9f3f7a64c3

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Citations in the corpus

Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases (2005, unknown): “, T σ(2) t = α0 + α1e 2 t−1 + β1σ 2 t−1 (2)”
Interdependence of oil prices and stock market indices: A copula approach (2014, background): “economy and financial markets, than an oil price decrease, which is beneficial (Balke et al., 2002; Hamilton, 1996; Mork, 1989; Park and Ratti, 2008).”
The Role of Oil Price Shocks in Causing U.S. Recessions (2014, background): “Stock and Watson (2012), on the other hand, concede that higher oil prices contributed to this recession, but attribute the bulk of the economic decline to other causes including the worsening of U.S. and global credit conditions.”
Oil price shocks and stock markets in the U.S. and 13 European countries (2008, background): “10 (2001), and Balke et al. (2002), amongst others for the U.S., by Lee et al. (2001) for Japan, by Huang et al. (2005) for Canada, Japan, and the U.S., and by Cunado and Perez de Garcia (2003) for most European countries.”
World Crude Oil Markets: Monetary Policy and the Recent Oil Shock (2006, unknown): “, Balke et al., 2002) show that oil price increases cause a contraction of GDP, whereas oil price declines tend to have a less noticeable effect. Jones et al. (2004) reported that best estimate of the oil price-GDP elasticity was –0.”
Conditional dependence structure between oil prices and exchange rates: A copula-GARCH approach (2013, background): “More recent attempts such as Balke et al. (2002), Zhang (2008) and Cologni and Manera (2009) document both asymmetric and nonlinear links between oil price shocks and macroeconomic variables.”
OIL PRICE SHOCKS AND INDUSTRIAL PRODUCTION: IS THE RELATIONSHIP LINEAR? (2011, background): “As was first noted by Balke et al. (2002), computing impulse responses in the textbook manner is problematic when one of the endogenous variables in the model is censored.”
NONLINEARITIES AND THE MACROECONOMIC EFFECTS OF OIL PRICES (2011, background): “(1995), Balke et al. (2002), and Hamilton (1996, 2003). Both Carlton (2010) and Ravazzolo and Rothman (2010) confirmed these predictive improvements using real-time data. Ferderer (1996) and Elder and Serletis (2010) demonstrated that oil-price volatility predicts slower GDP growth, implying that oi”