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DOI | 10.1016/j.enpol.2018.01.032 |
Impacts of oil price shocks on the United States economy: A meta-analysis of the oil price elasticity of GDP for net oil-importing economies | |
Oladosu, Gbadebo A.; Leiby, Paul N.; Bowman, David C.; Uria-Martinez, Rocio; Johnson, Megan M. | |
2018-04-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2018 |
卷号 | 115页码:523-544 |
文章类型 | Article |
语种 | 英语 |
国家 | USA |
英文摘要 | Policy makers are interested in estimates of the potential economic impacts of oil price shocks, particularly during periods of rapid and large increases that accompany severe supply shocks. Literature estimates of the economic impacts of oil price shocks, summarized by the oil price elasticity of GDP, span a very wide range due to both fundamental economic and methodological factors. This paper presents a quantitative meta-analysis of the oil price elasticity of GDP for net oil importing countries, with a focus on the United States (US). The full range of estimates of the oil price elasticity of GDP for the US in the data is - 0.124 to + 0.017, accounting for different methodologies, data and other factors. We employ a meta-regression model that controls for key determinant factors to estimate the mean and variance of the GDP elasticity across studies. We use a robust estimation technique to deal with heterogeneity of the data and well-known econometric issues that confront mew-analysis. The resulting regression model is used to simulate the oil price elasticity of GDP for the US, with a mean of - 0.020% and 68% confidence interval of - 0.035 to - 0.006, four quarters after a shock. |
英文关键词 | Oil price shocks GDP elasticity Heterogeneity Meta-analysis Partial-robust-M-regression |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000428099800051 |
WOS关键词 | SUPPLY SHOCKS ; MACROECONOMY RELATIONSHIP ; INCOME ELASTICITY ; GASOLINE DEMAND ; META-REGRESSION ; COUNTRIES ; INFLATION ; 1970S ; BIG |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/18701 |
专题 | 气候变化 |
作者单位 | Oak Ridge Natl Lab, Div Environm Sci, Oak Ridge, TN 37830 USA |
推荐引用方式 GB/T 7714 | Oladosu, Gbadebo A.,Leiby, Paul N.,Bowman, David C.,et al. Impacts of oil price shocks on the United States economy: A meta-analysis of the oil price elasticity of GDP for net oil-importing economies[J]. ENERGY POLICY,2018,115:523-544. |
APA | Oladosu, Gbadebo A.,Leiby, Paul N.,Bowman, David C.,Uria-Martinez, Rocio,&Johnson, Megan M..(2018).Impacts of oil price shocks on the United States economy: A meta-analysis of the oil price elasticity of GDP for net oil-importing economies.ENERGY POLICY,115,523-544. |
MLA | Oladosu, Gbadebo A.,et al."Impacts of oil price shocks on the United States economy: A meta-analysis of the oil price elasticity of GDP for net oil-importing economies".ENERGY POLICY 115(2018):523-544. |
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