International Dimensions of Monetary Policy : Comment on "The Macroeconomic Effects of Oil Price Shocks: Why are the 2000s so different from the 1970s?"

By Julio J. Rotemberg. 2007

245 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/a5a3a96cf4353ba0f30a305c9d2897617e550ca8

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Citations in the corpus

Quantitative Effects of the Shale Oil Revolution (2015, unknown): “[9] Blanchard, O.”
The asymmetric effects of oil shocks on output growth: a Markov-switching analysis for the G-7 countries (2006, methodology): “…strategies carried out by central banks and more flexible economies (in particular, as far as labour markets are concerned) have been recently stressed as main factors of a decreasing macroeconomic effects of oil shocks by other empirical work (see, Blanchard and Gali, 2007 and Nordhaus, 2007).”
Monetary Policy Responses to Oil Price Fluctuations (2012, background): “(7) The terms ī1 and π̄ core 1 are the steady-state values for the nominal interest rate and inflation, respectively.”
Oil Price Shocks and the Stock Market: Evidence from Japan (2013, background): “This result is consistent with a number of recent international comparison studies which ﬁnd that the negative effects of oil price increases on Japan’s real economic activity are much smaller than those for other oil-importing countries including the U.S. (see for example, Jime´nez-Rodrı´guez and S”
The Supply Shock Explanation of the Great Stagflation Revisited (2008, unknown): “…somewhat greater for the real effects of oil shocks than for the effects on non-energy inflation, even though both have diminished a great deal.75 Blanchard and Gali (2007) also adduce some modest evidence in favor of greater wage flexibility in recent years.76 But their more speculative…”
Asymmetries in the response of economic activity to oil price increases and decreases (2015, result): “…of industrial production for the U.S. are consistent with the expected effect for an oil importing country, Japan’s responses are somewhat puzzling but consistent with previous literature (see, e.g. Blanchard and Galí 2010; JiménezRodríguez and Sánchez 2005; Fukunaga, Hirakata, and Sudo 2011).”
Time-Varying Effects of Oil Supply Shocks on the US Economy (2008, unknown): “3 2002, 2004; Hamilton 2003, 2008a; Rotemberg 2007).3 On the other hand, also the macroeconomic structure has changed over time which can bring about time-varying e¤ects of oil shocks.4 Prominent explanations for di¤erent macroeconomic consequences of oil shocks over time discussed in the…”
Trade Linkages and Macroeconomic Effects of the Price of Oil (2010, background): “In a recent paper, Blanchard and Galí (2007) stress that the events of the past dec- ade indicate that oil prices are not a significant source of economic fluctuations.”
Oil price shocks and stock market returns: New evidence from the United States and China (2014, background): “…2012; Lippi and Nobili, 2012; Segal, 2011; Rahman and Serletis, 2011; Tang et al., 2010; Jbir and Zouari-Ghorbel, 2009; 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…”