Replication data for: Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market

Principal Investigator(s): View help for Principal Investigator(s) Lutz Kilian

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LICENSE.txt	text/plain	14.6 KB	10/12/2019 05:01:AM
beagdp.txt	text/plain	2.4 KB	10/12/2019 05:01:AM
cpi.txt	text/plain	6.5 KB	10/12/2019 05:01:AM
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Project Citation:

Kilian, Lutz. Replication data for: Not All Oil Price Shocks Are Alike: Disentangling Demand and Supply Shocks in the Crude Oil Market. Nashville, TN: American Economic Association [publisher], 2009. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-12. https://doi.org/10.3886/E113299V1

Project Description

Summary: Shocks to the real price of oil may reflect oil supply shocks, shocks to the global demand for all industrial commodities, or demand shocks that are specific to the crude oil market. Each shock has different effects on the real price of oil and on US macroeconomic aggregates. Changes in the composition of shocks help explain why regressions of macroeconomic aggregates on oil prices tend to be unstable. Evidence that the recent surge in oil prices was driven primarily by global demand shocks helps explain why this shock so far has failed to cause a major recession in the United States. (JEL E31, E32, Q41, Q43)

Scope of Project

JEL Classification:
      E31 Price Level; Inflation; Deflation
      E32 Business Fluctuations; Cycles
      Q41 Energy: Demand and Supply; Prices
      Q43 Energy and the Macroeconomy

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Published Versions

V1 [2019-10-12]

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