Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/210033 
Autor:innen: 
Erscheinungsjahr: 
2013
Schriftenreihe/Nr.: 
Working Paper No. 2013/10
Verlag: 
Norges Bank, Oslo
Zusammenfassung: 
This paper examines the impact of different types of oil price shocks on the U.S. economy, using a factor-augmented VAR (FAVAR) approach. The results indicate that when examining the effects of oil price shocks, it is important to account for the interaction between the oil market and the macroeconomy. I find that oil demand shocks are more important than oil supply shocks in driving several macroeconomic variables, and that the origin of demand shocks matter. Specifically, the U.S. economy and monetary policy respond differently to global demand shocks that have the effect of raising the price of oil and to oil-specific demand shocks.
Schlagwörter: 
FAVAR
oil demand shocks
oil supply shocks
business cycle
monetary policy
factor model
JEL: 
C3
E31
E32
E4
E5
Q43
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-82-7553-744-5
Creative-Commons-Lizenz: 
cc-by-nc-nd Logo
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe





Publikationen in EconStor sind urheberrechtlich geschützt.