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We employ a set of sign restrictions on the generalized impulse responses of a Global VAR model, estimated for 38 countries/regions over the period 1979Q2–201

This paper presents a simple macroeconomic model of the oil market. The model incorporates features of oil supply such as depletion, endogenous oil exploration

United States monetary policy has traditionally been modeled under the assumption that the domestic economy is immune to international factors and exogenous sho

We compare the economic consequences of several types of oil shocks across a set of industrialized countries that are structurally very diverse with respect to

This paper, using a six-region DSGE model of the world economy, assesses the GDP and current account implications of permanent oil supply shocks hitting the wor