May 29 - 30, 2012

Graduate Center Masterclasses

The Relationship between Oil Markets and the Macro Economy: Theory and Empirics

Date

May 29 - 30, 2012
Di 14:00-18:30/Mi 09:00-12:30

Location

Eleanor-Dulles-Raum
DIW Berlin im Quartier 110
Room 5.2.010
Mohrenstraße 58
10117 Berlin

Speaker

Lutz Kilian, University of Michigan
Contents
  • A brief history of oil markets and oil price shocks
  • The determinants of the price of oil
  • Flow supply shocks versus flow demand shocks
  • The role of speculation and expectations in oil markets
  • How are oil price shocks transmitted to oil-importing economies?
  • Nonlinearities in the Oil-Macro Relationship
  • How should policy makers respond to oil price shocks?
  • Forecasting the price of oil

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