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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 …

Essays On The Impact Of Oil Price Shocks On The Macroeconomy, Latika Gupta Lagalo

Wayne State University Dissertations

ABSTRACT

ESSAYS O THE IMPACT OF OIL PRICE SHOCKS O THE

Advisor: Dr. Ana María Herrera

Major: Economics

Degree: Doctor of Philosophy

MACROECOOMY

by

LATIKA GUPTA LAGALO

December 2011

This dissertation analyzes the relationship between oil price and industrial production.

use recently developed methods and techniques to investigate the functional form and

structural stability of the relationship between oil prices and industrial production. In my

first chapter, I use both slope-based tests and impulse response based tests to provide

evidence of nonlinearity in the response of U.S. industrial production to oil price shocks

My second essay further empirically assesses the …