scholarly journals The Macroeconomic Effects of Oil Price Shocks: Why are the 2000s so Different from the 1970s?

2007 ◽  
Author(s):  
Olivier J. Blanchard ◽  
Jordi Galí
Keyword(s):  
Oil Price ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Macroeconomic Effects

scholarly journals NONLINEARITIES AND THE MACROECONOMIC EFFECTS OF OIL PRICES

2011 ◽  
Vol 15 (S3) ◽  
pp. 364-378 ◽  
Author(s):  
James D. Hamilton
Keyword(s):  
Oil Prices ◽  
Oil Price ◽  
Oil Price Shocks ◽  
Price Shocks ◽  
Macroeconomic Effects

This paper reviews some of the literature on the macroeconomic effects of oil price shocks with a particular focus on possible nonlinearities in the relation and recent new results obtained by Kilian and Vigfusson [http://www-personal.umich/~lkilian/kvsubmission.pdf (2009)].

scholarly journals Oil price change and Economy relationship :A global review using a nonlinear dynamic model for MENA Countries

2020 ◽  
Vol 24 (2) ◽  
Author(s):  
Essahbi Essaadi ◽  
Rafik Jbir
Keyword(s):  
Price Change ◽  
Oil Prices ◽  
Structural Var ◽  
Oil Price ◽  
Time Varying ◽  
Oil Price Shocks ◽  
Nonlinear Dynamic Model ◽  
Price Shocks ◽  
Mena Countries ◽  
Macroeconomic Effects

This paper studies the macroeconomic effects of oil price shocks in a selection of MENA countries. The oil price shock is identified by assuming that an individual country's performance does not affect world oil prices. We put particular emphasis on the time-varying relationship between oil prices and macroeconomic variables and implement their approach in a Time-Varying Structural VAR model (TV-SVAR) framework. The main findings are that the macroeconomic effects of oil price shocks have evolved over time in MENA countries. Interestingly, however, we do not find a lot of heterogeneity among the MENA countries they consider, even though their list includes both net oil exporters (Algeria, Bahrain, Iran, Kuwait, Saudia Arabia) and net oil importers (Turkey and Tunisia) 

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