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Essays On The Effects Of Oil Price Shocks And Monetary Shocks On Labor Reallocation, Mohamad Badih Karaki
Essays On The Effects Of Oil Price Shocks And Monetary Shocks On Labor Reallocation, Mohamad Badih Karaki
Wayne State University Dissertations
The debate regarding the asymmetric effects associated with oil and monetary shocks on the economy has revived interest in analyzing the channels of transmission that generate asymmetries in the response of economic activity to these shocks. This dissertation examines the role of the allocative channel in the transmission mechanism of oil shocks and monetary shocks on economic activity. Using methods by Kilian and Vigfusson (2011b), we analyze the impact of oil and monetary shocks on job creation and job destruction in manufacturing industries.
We found that an unanticipated positive oil price shock triggers costly reallocation of labor across sectors and …