Kang, Wensheng; Ratti, Ronald A.; Vespignani, Joaquin
Kilian and Park (2009) find shocks to oil supply are relatively unimportant to understanding changes in
U.S. stock returns.Weexamine the impact of both U.S. and non-U.S. oil supply shocks on U.S. stock returns
in light of the unprecedented expansion in U.S. oil production since 2009. Our results underscore the
importance of the disaggregation of world oil supply and of the recent extraordinary surge in the U.S. oil
production for analysing impact on U.S. stock prices. A positive U.S. oil...[Show more]
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