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Macroeconomic Structure and Oil Price Shocks at the Industrial Level

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  • Rebeca Jimenez-Rodriguez

Abstract

This paper analyses the role of the macroeconomic structure in the response of industrial output to an oil price shock in six OECD countries. The modelling of the macroeconomic structure is important in examining the effect of an oil price shock on the industry-level output, since the analysis of the transmission mechanisms helps us to better understand the response of industrial output to such a shock. Thus, cross-country differences found in the responses of industrial output to oil price shocks within the European Monetary Union can be partially explained by differences in the transmission mechanisms of such shocks.

Suggested Citation

  • Rebeca Jimenez-Rodriguez, 2011. "Macroeconomic Structure and Oil Price Shocks at the Industrial Level," International Economic Journal, Taylor & Francis Journals, vol. 25(1), pages 173-189.
  • Handle: RePEc:taf:intecj:v:25:y:2011:i:1:p:173-189 DOI: 10.1080/10168737.2010.487913
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    Cited by:

    1. Rebeca Jiménez-Rodríguez, 2015. "Oil price shocks and stock markets: testing for non-linearity," Empirical Economics, Springer, pages 1079-1102.
    2. Valcarcel, Victor J. & Wohar, Mark E., 2013. "Changes in the oil price-inflation pass-through," Journal of Economics and Business, Elsevier, pages 24-42.

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