A quantitative analysis of oil-price shocks, systematic monetary policy, and economic downturns

By Sylvain Leduc, Keith Sill. 2001

177 citations recorded by the source corpus.

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

View Paper: https://www.semanticscholar.org/paper/744175f4161c454e296d24e0c89b5d0130174b0c

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Citations in the corpus

Oil price shocks and stock market returns: New evidence from the United States and China (2014, background): “…Nakov and Pescatori, 2009; Blanchard and Gali, 2007; Hamilton, 2008, 1996; Hamilton and Herrera, 2004; Barsky and Kilian, 2004; Jones et al., 2004; Leduc and Sill, 2004; Brown and Yucel, 2002; Hooker, 2002, 1996; Amano and van Norden, 1998; Bernanke et al., 1997; Rotemberg and Woodford, 1996;…”
The Economic Effects of Energy Price Shocks (2007, background): “In either case, when energy prices rise, 12This information was obtained from unit sales and production data on the company websites.”
Pricing Uncertainty Induced by Climate Change (2020, background): “See, for instance, Li and Jarvis (2009) and Castruccio et al. (2014). Considerations like these lead us to consider potential model misspecification as an important source of uncertainty.”
Oil Shocks and External Adjustment (2007, background): “(20)Leduc and Sill (2004) emphasized that alternative monetary policy rules can lead to markedly different responses of output to oil price increases.”
Does the Fed Respond to Oil Price Shocks (2011, unknown): “Whereas Leduc and Sill (2004), for example, concluded that in their DSGE model monetary policy contributes about 40 percent to the drop in real output following a rise in the price of oil, Carlstrom and Fuerst (2006), found that under alternative assumptions the entire decline in U.S. real output…”
Monetary Policy Responses to Oil Price Fluctuations (2012, background): “…has been conducted under the counterfactual premise that the real price of crude oil is exogenous with respect to the U.S. economy (see, e.g., Leduc and Sill 2004; Carlstrom and Fuerst 2006; Dhawan and Jeske 2007; Plante 2009a,b; Winkler 2009; Montoro 2010; Kormilitsina 2011; Natal 2012).”
Using wavelets to decompose the time–frequency effects of monetary policy (2008, result): “We also find evidence that in the 1950s interest rates were reacting to industrial production, in the 2–4 year period, but that in the 1970s and 1980s, especially in the 4–12 year period, we observe an anti-phase relation with interest rates leading, meaning that increases in the interest rates had ”
Oil and the Great Moderation (2010, unknown): “In this respect, our work is most closely related to Leduc and Sill (2007) who assess the role played by monetary policy relative to TFP and oil shocks in the Great Moderation.”