Series: IMF Working Papers
Author(s): Tao Wu , and Michele Cavallo
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 January 2012
Keywords: Oil Shocks, Market-Based Information, VAR Identification, oil market, opec, equation, oil demand, Multiple or Simultaneous Equation Models: Time-Series Models, Methodology for Collecting, Estimating
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...