How sensitive are consumer expenditures to retail energy prices

By P. Edelstein, Lutz Kilian. 2009

573 citations recorded by the source corpus.

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

View Paper: https://www.semanticscholar.org/paper/92edcc21e92b795a84048390f47d5215c25b064c

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

1. Lutz Kilian
2. George Filis
3. Christiane Baumeister
4. Robert J. Vigfusson
5. Stavros Degiannakis *
6. Mark W. Watson
7. James H. Stock
8. V. Ramey

In Renewable Energy, Sustainability and the Environment

1. Lutz Kilian
2. George Filis
3. Christiane Baumeister
4. Robert J. Vigfusson
5. Stavros Degiannakis *
6. G. Peersman
7. Ine Van Robays
8. Mark W. Watson

Citations in the corpus

• Structural Vector Autoregressions (2011, methodology): “A case in point is the recursively identified monthly bivariate model utilized in Edelstein and Kilian (2009): µ ∆ ∆ ¶ = ⎡⎣ 0 ⎤⎦µ1 2 ¶ where ∆ denotes the percent change in U.S. energy prices and ∆ denotes percent growth in real U.S. energy consumption.”
• The Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market (2013, background): “Equation (11) suggests that if the standard deviation of oil demand shocks resulting from e.”
• Oil Prices and Stock Markets: A Review of the Theory and Empirical Evidence (2018, background): “Rising uncertainty about future oil costs increases the incentives of households to save rather than consume (Edelstein and Kilian, 2009).”
• NONLINEARITIES AND THE MACROECONOMIC EFFECTS OF OIL PRICES (2011, background): “Printed in the United States of America. doi:10.1017/S1365100511000307 NONLINEARITIES AND THE MACROECONOMIC EFFECTS”
• Does the Fed Respond to Oil Price Shocks (2011, unknown): “Moreover, while it is true that fluctuations in the energy share have affected the transmission of energy price shocks, even controlling for the evolution of energy expenditures there is strong evidence for the reduced importance of energy price shocks (see Edelstein and Kilian 2009 ).”
• Volatility spillovers and cross-hedging between gold, oil and equities: Evidence from the Gulf Cooperation Council countries (2017, unknown): “6 For example, increasing oil prices can reduce disposable income, increase precautionary savings, and, therefore, reduce consumption demand overall (Edelstein and Kilian, 2009).”
• What Drives Oil Prices? Emerging versus Developed Economies (2012, unknown): “Finally, as pointed out by Edelstein and Kilian (2009) and Hamilton (2009), a key factor transmitting the energy price shocks to the domestic economy has been the automobile sector. In particular, higher energy prices has typically implied an increase in the demand for energy-efficient small cars at”
• Oil, Automobiles, and the U.S. Economy: How Much Have Things Really Changed? (2011, methodology): “Using VARs that are similar to those estimated by Edelstein and Kilian (2009) and Blanchard and Galí (2010), we then show how mismeasurement of the true cost of oil in the 1970s may have caused the appearance of structural instability in the impulse-response functions of real output to oil price…”
• Cross-Country Differences in the Effects of Oil Shocks (2012, background): “…in the literature of time-varying effects of oil shocks (e.g. Bernanke 2006, Blanchard and Gali 2007 or Hamilton 2009).11 For the US economy, Edelstein and Kilian (2009), Herrera and Pesavento (2007) and Blanchard and Gali (2007) indeed find a reduced impact of oil price shocks on real GDP…”
• Oil Price Shocks: Causes and Consequences (2014, background): “Edelstein and Kilian (2009) conclude that the implied reduction in consumer expenditures is too small to account for large reductions in real GDP. Hamilton (1988) shows that the reduction in expenditures may be further amplified by increases in the operating cost of energy-using durables.”
• NONLINEARITIES IN THE OIL PRICE–OUTPUT RELATIONSHIP (2010, background): “One difference is that Edelstein and Kilian (2009) allow for nonlinearities related to the evolution of the share of energy in consumption, whereas Elder and Serletis do not.”
• OIL PRICE SHOCKS AND INDUSTRIAL PRODUCTION: IS THE RELATIONSHIP LINEAR? (2011, background): “[9] Edelstein, Paul and Lutz Kilian (2009), "How Sensitive are Consumer Expenditures to Retail Energy Prices?", Journal of Monetary Economics, 56(6) 766-779.”