The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.
Exogenous Oil Supply Shocks: How Big Are They and How Much Do They Matter for the U.S. Economy?
Open accessAbstract
The paper proposes a new measure of exogenous oil supply shocks. The timing, the magnitude, and the sign of this measure may differ greatly from current state-of-the-art estimates. It is shown that only a small fraction of the observed oil price increases during oil crisis periods can be attributed to exogenous oil production disruptions. Exogenous oil supply shocks cause a sharp drop of U.S. real GDP growth after five quarters rather than an immediate and sustained reduction in economic growth and a spike in CPI inflation after three quarters. Overall, exogenous oil supply shocks made remarkably little difference for the evolution of the U.S. economy since the 1970s, although they did matter for some historical episodes.
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Citations
Cites
Testing for Weak Instruments in Linear IV Regression
Stock, J., & Yogo, M. (2002) · doi:10.3386/t0284 · Cited by 1,842
WHY AGNOSTIC SIGN RESTRICTIONS ARE NOT ENOUGH: UNDERSTANDING THE DYNAMICS OF OIL MARKET VAR MODELS
Kilian, L., & Murphy, D. P. (2012) · Journal of the European Economic Association · doi:10.1111/j.1542-4774.2012.01080.x · Cited by 544
Self-citation
Cited by
THE ROLE OF INVENTORIES AND SPECULATIVE TRADING IN THE GLOBAL MARKET FOR CRUDE OIL
Kilian, L., & Murphy, D. P. (2014) · Journal of Applied Econometrics · doi:10.1002/jae.2322 · Cited by 1,472
Self-citationFinancialization of commodity markets
Cheng, I.-H., & Xiong, W. (2014) · Annual Review of Financial Economics · doi:10.1146/annurev-financial-110613-034432 · Cited by 810
What do we learn from the price of crude oil futures?
Alquist, R., & Kilian, L. (2010) · Journal of Applied Econometrics · doi:10.1002/jae.1159 · Cited by 744
Self-citationWHY AGNOSTIC SIGN RESTRICTIONS ARE NOT ENOUGH: UNDERSTANDING THE DYNAMICS OF OIL MARKET VAR MODELS
Kilian, L., & Murphy, D. P. (2012) · Journal of the European Economic Association · doi:10.1111/j.1542-4774.2012.01080.x · Cited by 544
Self-citationBaumeister, C., & Peersman, G. (2013) · Journal of Applied Econometrics · doi:10.1002/jae.2283 · Cited by 405
Metadata
- Authors
- Kilian, L.
- Venue
- Review of Economics and Statistics
- Publisher
- MIT Press - Journals
- Published
- 2008-05
- Volume
- 90
- Issue
- 2
- Pages
- 216-240
- ISSN
- 0034-6535 (ISSN-L)
- 1530-9142
- OpenAlex
- W2010468892
- Cited by
- 926
- References
- 2
- FWCI
- 118.30
- Type
- journal article
- Language
- en
- Open access
- green
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- Kilian, L. (2008). Exogenous Oil Supply Shocks: How Big Are They and How Much Do They Matter for the U.S. Economy? Review of Economics and Statistics. https://doi.org/10.1162/rest.90.2.216
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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.
