The Jobs Impact of Oil Supply Shocks

A New Approach for Identifying Demand and Supply Shocks in the ...

A supply-driven increase in the price of oil can result in higher unemployment and inflation, leaving central bankers with the difficult ...

The Employment and Wage Effects of Oil Price Changes in

We find that oil price increases result in a substantial decline in real wages for all workers, but raise the relative wage of skilled workers.

What Is a Supply Shock and What Causes It? - Investopedia

A commodity that is widely perceived as vulnerable to negative supply shocks is crude oil ... Supply shocks impact the economy by changing the availability ...

Identifying oil price shocks and their consequences: the role of ...

A seminal paper, Kilian (2009), develops an econometric framework to identify supply and demand shocks that drive oil prices. However, the role of each driver ...

The Employment and Wage Effects of Oil Price Shocks

If so, the use of aggregate demand management or other policy measures to respond to the shock may prove futile or even counter-productive. On the other hand, ...

Time-Varying Effects of Oil Supply Shocks on the U.S. Economy

By construction, this demand elasticity corresponds to the ratio of the impact responses of world oil production and of the real price of oil in ...

The Russian oil supply shock of 2022 - Dallasfed.org

Traditionally, oil supply shocks arose because of civil unrest in oil-producing countries or because military conflict resulted in the ...

Employment Effects of an Increased Oil Price in an Economy with ...

The effects of an increased oil price are analyzed in a two-sector economy with immobile labor combined with a “wage leadership” assumption.

The Effects of Oil Price Shocks on Job Reallocation - ResearchGate

Herrera and Karaki (2015) imply that the impact of oil price shocks on employment in U.S. manufacturing industries occurs primarily through aggregate channels ( ...

What Is the Impact of Oil Supply Shocks on Employment?

As anyone who owns a car knows well, the price of oil can be extremely volatile. But do sudden shocks in the supply of oil affect something ...

Oil price shocks in real time - CEPR

On that day Brent prices gained 4%, and our model pins down most of the price increase to a supply shock (shown by the greater contribution from ...

Time-Varying Effects of Oil Supply Shocks on the US Economy

A steepening of the oil demand curve is the only possible explanation for this stylized fact. Accordingly, similar physical disturbances in oil production now ...

4.9 Global oil and other commodity price shocks - CORE Econ

At the level of the economy as a whole, when the country is a net importer of oil, the national pie to be divided between owners and employees shrinks when more ...

The Effect of Oil Supply Shocks on Industry Returns

We examine how industry returns react to various oil shocks developed in Baumeister and Hamilton (2019) and find that oil supply shocks matter as much, if not ...

Not All Oil Price Shocks Are Alike. A Replication of Kilian ... - arXiv

... work focuses on the effects of oil-price fluctuations, ... 2.4 The cumulative effect of oil demand and oil supply shocks on the real price of oil.

Oil Shocks when Interest Rates Are at the Zero Lower Bound

We find that changes in the oil supply tend to have a smaller contractionary effect on the economy—and over the longer term could even lead to ...

Oil Price Shocks | NBER

Table 1 presents from that research the summary of the five most recent petroleum supply disruptions. In most of these episodes, the lost oil production from ...

The effect of oil supply shocks on US economic activity: What have ...

For instance, among the studies reviewed in this paper, estimates of the effect on the real oil price of an unexpected decline in world oil ...

The impact of oil supply shocks on real economic activity

We find exogenous oil supply shocks have a very large and persistent impact on US real economic activity after the mid-1980s.

Do Structural Oil-Market Shocks Affect Stock Prices?

In sum, while the variance decompositions show that oil-supply and global-demand shocks frequently exhibit significant effects on the real oil-price shock, ...