Causes and Consequences of the Oil Shock of 2007-08

James D. Hamilton

NBER Working Paper No. 15002
Issued in May 2009

---- Acknowledgements -----

I am grateful to Alan Blinder, David Romer, Lutz Kilian, conference participants, and an anonymous referee for helpful comments on an earlier draft of this paper, and to Davide Bertoli for supplying the Blanchard-Galí data and code. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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