Our understanding of the sources of oil price fluctuations and their effects on the US
economy has undergone important transformations in the last decades. First, several studies …

Research on oil markets conducted during the last decade has challenged long-held beliefs
about the causes and consequences of oil price shocks. As the empirical and theoretical …

We develop a simple quantitative New Keynesian model aimed at accounting for the recent
sudden and persistent rise in inflation, with emphasis on the role of oil shocks and …

It has been 40 years since the oil crisis of 1973/74. This crisis has been one of the defining
economic events of the 1970s and has shaped how many economists think about oil price …

Following four years of relative stability at around $105 per barrel, oil prices have declined
sharply since June 2014. This paper presents a comprehensive analysis of the sources of …

We assess the macroeconomic effects of carbon transition policies aimed at mitigating
climate change in the euro area. To this end, we augment the ECB's New Area-Wide Model …

How does household heterogeneity affect the transmission of an energy price shock? What
are the implications for monetary policy? We develop a small, open-economy TANK model …

Utilising the time-frequency spillover framework constructed by Baruník and Křehlík (2018),
this study explores the time-frequency risk spillovers among the oil, gold and foreign …

This paper develops a time‐varying parameter vector autoregressive model to examine the
dynamic effects of crude oil prices and monetary policy on China's economy during January …

This study investigates the macroeconomic effects of adverse oil price shocks on a small oil-
exporting economy—the Azerbaijan economy. We estimate a recursive (near) VAR model …