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Original Articles

Oil shocks and the US terms of trade: gauging the role of the trade channel

Pages 152-156 | Published online: 10 May 2012

References

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  • Hooker , M. 1996 . What happened to the oil price-macroeconomy relationship? . Journal of Monetary Economics , 38 : 195 – 213 .
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  • Kilian , L. , Rebucci , A. and Spatafora , N. 2009 . Oil shocks and external balances . Journal of International Economics , 77 : 181 – 94 .
  • Kilian , L. and Vigfusson , R. 2009 . Pitfalls in estimating asymmetric effects of energy price shocks, CEPR Discussion Papers 7284 , Washington , DC : CEPR .
  • Koop , G. , Pesaran , M. H. and Potter , S. M. 1996 . Impulse response analysis in nonlinear multivariate models . Journal of Econometrics , 74 : 119 – 47 .
  • Maravalle , A. forthcoming . The role of the trade channel in the propagation of oil supply shocks . Energy Economics , doi: 10.1016/j.eneco.2012.03.002
  • Mork , K. A. 1989 . Oil and the macroeconomy. When prices go up and down: an extension of Hamilton's results . Journal of Political Economy , 97 : 740 – 4 .
  • Nordhaus , W. 2007 . Who is afraid of a big bad oil shock . Brooking Papers on Economic Activity , 2 : 219 – 38 .

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