Oil and the Macroeconomy: A Quantitative Structural Analysis

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Effects of oil price shocks on the stock market performance: Do nature of shocks and economies matter? (2015, result): “Further, this is also in line with previous results in the literature suggesting that the effect of oil price changes depends on the underlying cause of the change (Lippi and Nobili, 2012; Rapaport, 2013).”
Oil shocks and stock markets: dynamic connectedness under the prism of recent geopolitical and economic unrest (2017, result): “These results are in line with the literature that emphasises the importance of demand–side shocks, as opposed to supply–side shocks (see, among others, Baumeister and Peersman, 2013; Lippi and Nobili, 2012; Hamilton, 2009a,b).”
Oil prices, tourism income and economic growth: A structural VAR approach for European Mediterranean countries (2013, background): “In short, the consensus is that supply-side shocks, in general, exert either insignificant or negative impacts, whereas demand-side shocks appear to have both short- run and long-run positive effects (Baumeister and Peersman, 2012; Hamilton, 2009a,b; Lippi and Nobili, 2009).”
Modeling fluctuations in the global demand for commodities (2018, neutral): “driven by shifts in aggregate demand (see, e.g., Barsky and Kilian 2002; Kilian 2009a; Lippi and Nobili 2012; Kilian and Hicks 2013; Kilian and Murphy 2014; Alquist and Coibion 2014; Delle Chiaie, Ferrara and Giannone 2016; Knittel and Pindyck 2016; Jacks and Stürmer 2018; Stürmer 2018).”