Energy shocks, crises and the policy process: A review of theory and application
Author
Abstract
Suggested Citation
DOI: 10.1016/j.enpol.2014.11.031
Download full text from publisher
As the access to this document is restricted, you may want to
for a different version of it.References listed on IDEAS
- Coyne, Christopher J., 2011. "Constitutions and crisis," Journal of Economic Behavior & Organization, Elsevier, vol. 80(2), pages 351-357.
- Grossman, Peter Z., 2012. "The logic of deflective action: US energy shocks and the US policy process," Journal of Public Policy, Cambridge University Press, vol. 32(1), pages 33-51, March.
- Hamilton, James D & Herrera, Ana Maria, 2004. "Oil Shocks and Aggregate Macroeconomic Behavior: The Role of Monetary Policy: Comment," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 36(2), pages 265-286, April.
- Holcombe, Randall G, 2002. "Political Entrepreneurship and the Democratic Allocation of Economic Resources," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 15(2-3), pages 143-159, June.
- Ben S. Bernanke & Mark Gertler & Mark Watson, 1997.
"Systematic Monetary Policy and the Effects of Oil Price Shocks,"
Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 28(1), pages 91-157.
- Ben S. Bernanke & Mark Gertler & Mark W. Watson, 1997. "Systematic Monetary Policy and the Effects of Oil Price Shocks," Working Papers 1997-1, Princeton University. Economics Department..
- Bernanke, Ben S. & Gertler, Mark & Waston, Mark, 1997. "Systematic Monetary Policy and the Effects of Oil Price Shocks," Working Papers 97-25, C.V. Starr Center for Applied Economics, New York University.
- Ahrari, Mohammed E., 1987. "A Paradigm of ‘Crisis’ Decision Making: The Case of Synfuels Policy," British Journal of Political Science, Cambridge University Press, vol. 17(1), pages 71-91, January.
- Jacobsson, Staffan & Lauber, Volkmar, 2006. "The politics and policy of energy system transformation--explaining the German diffusion of renewable energy technology," Energy Policy, Elsevier, vol. 34(3), pages 256-276, February.
- Hamilton, James D, 1983. "Oil and the Macroeconomy since World War II," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 228-248, April.
- Weaver, R. Kent, 1986. "The Politics of Blame Avoidance," Journal of Public Policy, Cambridge University Press, vol. 6(4), pages 371-398, October.
- Hamilton, James D., 2003.
"What is an oil shock?,"
Journal of Econometrics, Elsevier, vol. 113(2), pages 363-398, April.
- James D. Hamilton, 2000. "What is an Oil Shock?," NBER Working Papers 7755, National Bureau of Economic Research, Inc.
- Cobb, Roger & Ross, Jennie-Keith & Ross, Marc Howard, 1976. "Agenda Building as a Comparative Political Process," American Political Science Review, Cambridge University Press, vol. 70(1), pages 126-138, March.
- Dieter Helm, 2005. "The Assessment: The New Energy Paradigm," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 21(1), pages 1-18, Spring.
- Schulman, Paul R., 1975. "Nonincremental Policy Making: Notes Toward an Alternative Paradigm," American Political Science Review, Cambridge University Press, vol. 69(4), pages 1354-1370, December.
- William R. Lowry & Mark Joslyn, 2014. "The Determinants of Salience of Energy Issues," Review of Policy Research, Policy Studies Organization, vol. 31(3), pages 153-172, May.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Bigerna, Simona & D’Errico, Maria Chiara & Polinori, Paolo, 2025. "Institutional variables and power firms’ productivity: Micro panel estimation with time-invariant variables," Socio-Economic Planning Sciences, Elsevier, vol. 102(C).
- Sebastian Seebauer & Eva Posch & Thomas Thaler & Claudia Winkler & Hermine Mitter, 2025. "Under which conditions can shocks stimulate transformative recovery: the Strategy Shock Implementation Reaction (SSIR) framework," Mitigation and Adaptation Strategies for Global Change, Springer, vol. 30(5), pages 1-29, June.
- Yogesh Bhatt & Norah Albishri & Karminder Ghuman & Aradhana Galgotia & Armando Papa, 2025. "Unpacking Energy Efficiency and Conservation Policies: A Multi‐Method Analysis of Effectiveness, Drivers, and Where We Are Headed," Sustainable Development, John Wiley & Sons, Ltd., vol. 33(6), pages 8648-8668, December.
- Kentaka Aruga & Md. Monirul Islam & Arifa Jannat, 2025. "The Impact of Fossil Fuel Market Fluctuations on the Japanese Electricity Market During the COVID-19 Era," Commodities, MDPI, vol. 4(2), pages 1-15, May.
- Fischer, Manuel, 2015. "Collaboration patterns, external shocks and uncertainty: Swiss nuclear energy politics before and after Fukushima," Energy Policy, Elsevier, vol. 86(C), pages 520-528.
- Peter Z. Grossman, 2019. "Utilizing Ostrom’s institutional analysis and development framework toward an understanding of crisis-driven policy," Policy Sciences, Springer;Society of Policy Sciences, vol. 52(1), pages 3-20, March.
- Giliberto Capano & Michael Howlett & Darryl S L Jarvis & M Ramesh, 2022. "Long-term policy impacts of the coronavirus: normalization, adaptation, and acceleration in the post-COVID state [Racial, economic, and health inequality and COVID-19 infection in the United States]," Policy and Society, Darryl S. Jarvis and M. Ramesh, vol. 41(1), pages 1-12.
- Gallaher, Adam & Graziano, Marcello & Axon, Stephen & Bertana, Amanda, 2023. "Breaking wind: A comparison between U.S. and European approaches in offshore wind energy leadership in the North Atlantic region," Renewable and Sustainable Energy Reviews, Elsevier, vol. 187(C).
- Dillig, Marius & Jung, Manuel & Karl, Jürgen, 2016. "The impact of renewables on electricity prices in Germany – An estimation based on historic spot prices in the years 2011–2013," Renewable and Sustainable Energy Reviews, Elsevier, vol. 57(C), pages 7-15.
- Hake, Jürgen-Friedrich & Fischer, Wolfgang & Venghaus, Sandra & Weckenbrock, Christoph, 2015. "The German Energiewende – History and status quo," Energy, Elsevier, vol. 92(P3), pages 532-546.
- Pim Derwort & Nicolas Jager & Jens Newig, 2019. "Towards productive functions? A systematic review of institutional failure, its causes and consequences," Policy Sciences, Springer;Society of Policy Sciences, vol. 52(2), pages 281-298, June.
- Kulmer, Veronika & Seebauer, Sebastian & Hinterreither, Helene & Kortschak, Dominik & Theurl, Michaela C. & Haas, Willi, 2022. "Transforming the s-shape: Identifying and explaining turning points in market diffusion curves of low-carbon technologies in Austria," Research Policy, Elsevier, vol. 51(1).
- Lüken genannt Klaßen, Hermann, 2026. "Emergency measures before the crisis? The puzzling pattern of price controls in the EU electricity market," Renewable and Sustainable Energy Reviews, Elsevier, vol. 226(PA).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Rebeca Jiménez-Rodríguez, 2004. "Oil Price Shocks: Testing for Non-linearity," CSEF Working Papers 115, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Awerbuch, Shimon & Sauter, Raphael, 2006.
"Exploiting the oil-GDP effect to support renewables deployment,"
Energy Policy, Elsevier, vol. 34(17), pages 2805-2819, November.
- Shimon Awerbuch & Raphael Sauter, 2005. "Exploiting the Oil-GDP Effect to Support Renewables Deployment," SPRU Working Paper Series 129, SPRU - Science Policy Research Unit, University of Sussex Business School.
- Anna Kormilitsina, 2011.
"Oil Price Shocks and the Optimality of Monetary Policy,"
Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 14(1), pages 199-223, January.
- Anna Kormilitsina, 2009. "Oil Price Shocks and the Optimality of Monetary Policy," Departmental Working Papers 0901, Southern Methodist University, Department of Economics.
- Anna Kormilitsina, 2010. "Code and data files for "Oil Price Shocks and the Optimality of Monetary Policy"," Computer Codes 09-106, Review of Economic Dynamics.
- Ali Ahmed, Huson Joher & Wadud, I.K.M. Mokhtarul, 2011. "Role of oil price shocks on macroeconomic activities: An SVAR approach to the Malaysian economy and monetary responses," Energy Policy, Elsevier, vol. 39(12), pages 8062-8069.
- Engemann, Kristie M. & Kliesen, Kevin L. & Owyang, Michael T., 2011.
"Do Oil Shocks Drive Business Cycles? Some U.S. And International Evidence,"
Macroeconomic Dynamics, Cambridge University Press, vol. 15(S3), pages 498-517, November.
- Kristie M. Engemann & Kevin L. Kliesen & Michael T. Owyang, 2010. "Do oil shocks drive business cycles? some U.S. and international evidence," Working Papers 2010-007, Federal Reserve Bank of St. Louis.
- Lizardo, Radhamés A. & Mollick, André V., 2010. "Oil price fluctuations and U.S. dollar exchange rates," Energy Economics, Elsevier, vol. 32(2), pages 399-408, March.
- Jaime Casassus & Freddy Higuera, 2011. "Stock Return Predictability and Oil Prices," Documentos de Trabajo 406, Instituto de Economia. Pontificia Universidad Católica de Chile..
- Aktham I. Maghyereh & Basil Awartani & Osama D. Sweidan, 2019. "Oil price uncertainty and real output growth: new evidence from selected oil-importing countries in the Middle East," Empirical Economics, Springer, vol. 56(5), pages 1601-1621, May.
- Lang, Korbinian & Auer, Benjamin R., 2020. "The economic and financial properties of crude oil: A review," The North American Journal of Economics and Finance, Elsevier, vol. 52(C).
- Leduc, Sylvain & Sill, Keith & Stark, Tom, 2007.
"Self-fulfilling expectations and the inflation of the 1970s: Evidence from the Livingston Survey,"
Journal of Monetary Economics, Elsevier, vol. 54(2), pages 433-459, March.
- Sylvain Leduc & Keith Sill & Tom Stark, 2002. "Self-fulfilling expectations and the inflation of the 1970s: evidence from the Livingston Survey," Working Papers 02-13, Federal Reserve Bank of Philadelphia.
- Jihoon Lee & Hong Chong Cho, 2021. "Impact of Structural Oil Price Shock Factors on the Gasoline Market and Macroeconomy in South Korea," Sustainability, MDPI, vol. 13(4), pages 1-23, February.
- Francesca Rondina, 2010.
"Policy evaluation and uncertainty about the effects of oil prices on economic activity,"
UFAE and IAE Working Papers
855.10, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Francesca Rondina, 2015. "Policy Evaluation and Uncertainty About the Effects of Oil Prices on Economic Activity," Working Papers 522, Barcelona School of Economics.
- Francesca Rondina, 2017. "The Impact of Oil Price Changes in a New Keynesian Model of the U.S. Economy," Working Papers 1709E, University of Ottawa, Department of Economics.
- Christiane Baumeister & Gert Peersman, 2013.
"Time-Varying Effects of Oil Supply Shocks on the US Economy,"
American Economic Journal: Macroeconomics, American Economic Association, vol. 5(4), pages 1-28, October.
- C. Baumeister & G. Peersman, 2008. "Time-Varying Effects of Oil Supply Shocks on the US Economy," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 08/515, Ghent University, Faculty of Economics and Business Administration.
- Christiane Baumeister & Gert Peersman, 2012. "Time-Varying Effects of Oil Supply Shocks on the U.S. Economy," Staff Working Papers 12-2, Bank of Canada.
- Gert Peersman & Christiane Baumeister, 2009. "Time-Varying Effects of Oil Supply Shocks on the US Economy," 2009 Meeting Papers 171, Society for Economic Dynamics.
- Jon Ellingsen & Caroline Espegren, 2022. "Lost in transition? Earnings losses of displaced petroleum workers," Working Papers No 06/2022, Centre for Applied Macro- and Petroleum economics (CAMP), BI Norwegian Business School.
- Schmidt, Torsten & Zimmermann, Tobias, 2007. "Why are the Effects of Recent Oil Price Shocks so Small?," Ruhr Economic Papers 29, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
- Hwang, Inwook & Zhu, Xiaoyang, 2024. "State-dependent oil price shocks on inflation and the efficacy of inflation targeting regime," Journal of International Money and Finance, Elsevier, vol. 144(C).
- Park, Jungwook & Ratti, Ronald A., 2008. "Oil price shocks and stock markets in the U.S. and 13 European countries," Energy Economics, Elsevier, vol. 30(5), pages 2587-2608, September.
- Muhammad Zeshan & Wasim Shahid Malik & Muhammad Nasir, 2019. "Oil Price Shocks, Systematic Monetary Policy and Economic Activity," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 58(1), pages 65-81.
Corrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:enepol:v:77:y:2015:i:c:p:56-69. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/enpol .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.
Printed from https://ideas.repec.org/a/eee/enepol/v77y2015icp56-69.html