Title

Resource Prices, Supply Shocks and Output Fluctuations

Document Type

Article

Publication Date

1995

Publication Source

Applied Economics Letters

Abstract

Following King and Plosser's (1984) suggestion, we use the growth of four real natural resource prices to proxy post-war supply shocks and assess their importance in a VAR which controls for aggregate demand influences on real output. We find that these supply shock proxies are able to account for a sizable portion of US post-war output fluctuations.

Inclusive pages

180-183

ISBN/ISSN

1350-5851

Publisher

Taylor & Francis

Volume

2

Issue

6