The DOI matches its Crossref record; 1 of the 1 references it cites were found in a registry or an index.
Oil and the Macroeconomy since World War II
Abstract
All but one of the U.S. recessions since World War II have been preceded, typically with a lag of around three-fourths of a year, by a dramatic increase in the price of crude petroleum. This does not mean that oil shocks caused these recessions. Evidence is presented, however, that even over the period 1948-72 this correlation is statistically significant and nonspurious, supporting the proposition that oil shocks were a contributing factor in at least some of the U.S. recessions prior to 1972. By extension, energy price increases may account for much of post-OPEC macroeconomic performance.
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Citations
Cites
Investigating causal relations by econometric models and cross-spectral methods
Granger, C. W. J. (1969) · Econometrica · doi:10.2307/1912791 · Cited by 22,989
Cited by
Shiller, R. J. (2017) · American Economic Review · doi:10.1257/aer.107.4.967 · Cited by 1,004
Oil price shocks, stock market, economic activity and employment in Greece
Papapetrou, E. (2001) · Energy Economics · doi:10.1016/s0140-9883(01)00078-0 · Cited by 773
Oil Shocks and Aggregate Macroeconomic Behavior: The Role of Monetary Policy: A Comment
Hamilton, J. D., & Herrera, A. M. (2004) · Journal of Money, Credit, and Banking · doi:10.1353/mcb.2004.0012 · Cited by 734
Self-citationThe Role of Energy in Economic Growth
Stern, D. I. (2011) · Annals of the New York Academy of Sciences · doi:10.1111/j.1749-6632.2010.05921.x · Cited by 617
Do oil price shocks matter? Evidence for some European countries
Cuñado, J., & Pérez de Gracia, F. (2003) · Energy Economics · doi:10.1016/s0140-9883(02)00099-3 · Cited by 466
Metadata
- Authors
- Hamilton, J. D.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 1983-04
- Volume
- 91
- Issue
- 2
- Pages
- 228-248
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2045564168
- Cited by
- 3,786
- References
- 1
- FWCI
- 39.40
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
