This paper employs a proxy structural VAR model to examine the effects of global supply chain (GSC) shocks on U.S. macroeconomic variables and the Federal Reserve's historical response, and evaluates …
PublishedClassicCarnegie-Rochester Conference Series on Public PolicyPublished Dec 1994
This 1994 Carnegie-Rochester Conference Series paper by Richard Clarida and Jordi Galí asks how much of the variance of real exchange rates since the collapse of Bretton Woods is attributable to …
PublishedClassicJournal of Economic LiteraturePublished Nov 2008
This 2008 Journal of Economic Literature survey reviews the methodological developments that, in the author's view, have overturned the older consensus that oil and energy price shocks are simply …