in this paper we investigate the effect of oil price shocks on stock market index in iran, by using of a structural var (svar) approach. we used four variables in the model namely kilian index, global oil supply, real oil price and real stock market index. the data are monthly and spanning the period 1997m10-2014m12. we identify the effect of four different shocks on stock market including oil ...

Nowadays one of the most important issues in our economy, both from economic and political view is the link between monetary policy and business cycle fluctuations. Amongst the shocks related to the supply side, the shock of oil price is the important factor that has affected the world economy since the 1970s. This paper examines the effects of monetary policy and oil price shocks on the busine...

The effect of oil price shocks on U.S. economic activity seems to have changed since the mid-1990s. A variety of explanations have been offered for the seeming change — including better luck, the reduced energy intensity of the U.S. economy, a more flexible economy, more experience with oil price shocks and better monetary policy. These explanations point to a weakening of the relationship betw...

This paper, using a six-region dynamic stochastic general equilibrium model of the world economy, assesses the output and current account implications of permanent oil supply shocks hitting the world economy. For modest-sized shocks and conventional production technologies, the effects are modest. But for larger shocks, for elasticities of substitution that decline as oil usage is reduced to a ...

The downtrend in oil prices beginning in 2014 represents a challenge for smallopen developing and exporting economies like Libya. This stems from the importance of government revenue generated from the natural resource sector in financing government consumption and investment expenditures as well as capital imports. The dependency on the natural resource sector and a relatively weak non-natural...

We study the effects of oil-price shocks on the U.S economy combining narrative and quantitative approaches. After examining daily oil-related events since 1984, we classify them into various event types. We then develop measures of exogenous shocks that avoid endogeneity and predictability concerns. Estimation results indicate that oil-price shocks have had substantial and statistically signif...

International trade has been playing an extremely significant role in China over the last 20 years. This paper is aimed to investigate and understand the relationship between China’s macro-economy and oil price from this new perspective. We find strong evidence that the increase of China’s price level resulting from oil price shocks is statistically less than that of its main trade partners’. T...