Detailed Information
Cited 0 time in 
Cited 0 time in 
Cited 0 time in
Metadata Downloads
THE IMPACT OF OIL PRICE SHOCKS ON THE US STOCK MARKET
- Authors
- Kilian, Lutz; Park, Cheolbeom
- Issue Date
- 11월-2009
- Publisher
- WILEY
- Citation
- INTERNATIONAL ECONOMIC REVIEW, v.50, no.4, pp.1267 - 1287
- Indexed
- SCIE
SCOPUS
- Journal Title
- INTERNATIONAL ECONOMIC REVIEW
- Volume
- 50
- Number
- 4
- Start Page
- 1267
- End Page
- 1287
- ISSN
- 0020-6598
- Abstract
- It is shown that the reaction of U.S. real stock returns to an oil price shock differs greatly depending on whether the change in the price of oil is driven by demand or supply shocks in the oil market. The demand and supply shocks driving the global crude oil market jointly account for 22% of the long-run variation in U.S. real stock returns. The responses of industry-specific U.S. stock returns to demand and supply shocks in the crude oil market are consistent with accounts of the transmission of oil price shocks that emphasize the reduction in domestic final demand.
- Files in This Item
- There are no files associated with this item.
Items in ScholarWorks are protected by copyright, with all rights reserved, unless otherwise indicated.