Jo, Soojin; Karnizova, Lilia; Reza, Abeer - 2017
Sectoral responses to oil price shocks help determine how these shocks are transmitted through the economy. Textbook … treatments of oil price shocks often emphasize negative supply effects on oil importing countries. By contrast, the seminal … contribution of Lee and Ni (2002) has shown that almost all U.S. industries experience oil price shocks largely through a reduction …