EconPapers    
Economics at your fingertips  
 

Oil Price Shocks and the U.S. Economy: Where Does the Asymmetry Originate?

Nathan Balke (), Stephen Brown and Mine Yucel

The Energy Journal, 2002, vol. Volume23, issue Number 3, 27-52

Abstract: Rising oil prices appear to retard aggregate U.S. economic activity by more than falling oil prices stimulate it. Past research suggests adjustment costs, financial stress, and/or monetary policy may be possible explanations for the asymmetric response. This paper uses a near vector autoregressive model of the U.S. economy to examine where the asymmetry might originate. The analysis uses counterfactual experiments to determine that monetary policy alone cannot account for the asymmetry.

JEL-codes: F0 (search for similar items in EconPapers)
Date: 2002
References: Add references at CitEc
Citations: View citations in EconPapers (87) Track citations by RSS feed

Downloads: (external link)
http://www.iaee.org/en/publications/ejarticle.aspx?id=1390 (text/html)
Access to full text is restricted to IAEE members and subscribers.

Related works:
Working Paper: Oil price shocks and the U.S. economy: where does the asymmetry originate? (1999) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aen:journl:2002v23-03-a02

Ordering information: This journal article can be ordered from
http://www.iaee.org/en/publications/ejsearch.aspx

Access Statistics for this article

More articles in The Energy Journal from International Association for Energy Economics Contact information at EDIRC.
Bibliographic data for series maintained by David Williams ().

 
Page updated 2020-07-25
Handle: RePEc:aen:journl:2002v23-03-a02