Lombardi, Marco J.; Van Robays, Ine - 2011
destabilize oil prices in recent years. We define a destabilizing financial shock as a shift in oil prices that is not related to … identified with sign restrictions, we disentangle this non-fundamental financial shock from fundamental shocks to oil supply and … spot prices, although only in the short run. Moreover, financial activity appears to have exacerbated the volatility in the …