Jones, Donald W.; Leiby, Paul N.; Paik, Inja K. - In: The Energy Journal Volume 25 (2004) Number 2, pp. 1-32
This paper reports on developments in theoretical and empirical understanding of the macroeconomic consequences of oil price shocks since 1996, when the U.S. Department of Energy sponsored a workshop summarizing the state of understanding of the subject. Four major insights stand out. First,...