skip to content
Did U.S. consumers respond to the 2014-2015 oil price shock? : evidence from the Consumer Expenditure Survey Preview this item
ClosePreview this item
Checking...

Did U.S. consumers respond to the 2014-2015 oil price shock? : evidence from the Consumer Expenditure Survey

Author: Patrick D Alexander; Louis Poirier; Bank of Canada.
Publisher: [Ottawa] : Bank of Canada, 2018.
Series: Staff working paper (Bank of Canada), 2018-13.
Edition/Format:   eBook : Document : National government publication : EnglishView all editions and formats
Summary:
"The impact of oil price shocks on the U.S. economy is a topic of considerable debate. In this paper, we examine the response of U.S. consumers to the 2014-2015 negative oil price shock using representative survey data from the Consumer Expenditure Survey. We propose a difference-in-difference identification strategy based on two factors, vehicle ownership and gasoline reliance, which generate variation in exposure  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Genre/Form: Electronic books
Material Type: Document, Government publication, National government publication, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Patrick D Alexander; Louis Poirier; Bank of Canada.
OCLC Number: 1030861416
Language Note: Includes abstract in French.
Notes: "March 2018."
Description: 1 online resource (ii, 31 pages) : color charts.
Series Title: Staff working paper (Bank of Canada), 2018-13.
Responsibility: by Patrick Alexander and Louis Poirier.
More information:

Abstract:

"The impact of oil price shocks on the U.S. economy is a topic of considerable debate. In this paper, we examine the response of U.S. consumers to the 2014-2015 negative oil price shock using representative survey data from the Consumer Expenditure Survey. We propose a difference-in-difference identification strategy based on two factors, vehicle ownership and gasoline reliance, which generate variation in exposure to oil price shocks across consumers. Our findings suggest that exposed consumers significantly increased their spending relative to non-exposed consumers when oil prices fell, and that the average marginal propensity to consume out of gasoline savings was above 1. Across products, we find that consumers increased spending especially on transportation goods and non-essential items"--Abstract, p. ii.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/1030861416> # Did U.S. consumers respond to the 2014-2015 oil price shock? : evidence from the Consumer Expenditure Survey
    a schema:MediaObject, schema:CreativeWork, schema:Book ;
    library:oclcnum "1030861416" ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/5164182239#Place/ottawa> ; # Ottawa
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/onc> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/personal_consumption_expenditures_price_index> ; # Personal consumption expenditures price index
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consumption_economics_united_states> ; # Consumption (Economics)--United States
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consumption_economics> ; # Consumption (Economics)
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/petroleum_products_prices_united_states> ; # Petroleum products--Prices--United States
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/errors_and_residuals> ; # Errors and residuals
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/ordinary_least_squares> ; # Ordinary least squares
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/produits_petroliers_prix_etats_unis> ; # Produits pétroliers--Prix--États-Unis
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Place/united_states> ; # United States.
    schema:about <http://dewey.info/class/339.4/a15/> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/economy_of_the_united_states> ; # Economy of the united states
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/petroleum_products_prices> ; # Petroleum products--Prices
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/economy> ; # Economy
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/coefficient_of_determination> ; # Coefficient of determination
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/fixed_effects_model> ; # Fixed effects model
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consumer_price_index> ; # Consumer price index
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/united_states> ; # United states
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/regression_analysis> ; # Regression analysis
    schema:about <http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consommation_economie_politique_etats_unis> ; # Consommation (Économie politique)--États-Unis
    schema:bookFormat schema:EBook ;
    schema:contributor <http://experiment.worldcat.org/entity/work/data/5164182239#Person/poirier_louis> ; # Louis Poirier
    schema:contributor <http://experiment.worldcat.org/entity/work/data/5164182239#Organization/bank_of_canada> ; # Bank of Canada.
    schema:creator <http://experiment.worldcat.org/entity/work/data/5164182239#Person/alexander_patrick_d> ; # Patrick D. Alexander
    schema:datePublished "2018" ;
    schema:description ""The impact of oil price shocks on the U.S. economy is a topic of considerable debate. In this paper, we examine the response of U.S. consumers to the 2014-2015 negative oil price shock using representative survey data from the Consumer Expenditure Survey. We propose a difference-in-difference identification strategy based on two factors, vehicle ownership and gasoline reliance, which generate variation in exposure to oil price shocks across consumers. Our findings suggest that exposed consumers significantly increased their spending relative to non-exposed consumers when oil prices fell, and that the average marginal propensity to consume out of gasoline savings was above 1. Across products, we find that consumers increased spending especially on transportation goods and non-essential items"--Abstract, p. ii."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/5164182239> ;
    schema:genre "Electronic books"@en ;
    schema:genre "Government publication"@en ;
    schema:genre "National government publication"@en ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://worldcat.org/issn/1701-9397> ; # Staff working paper (Bank of Canada) ;
    schema:name "Did U.S. consumers respond to the 2014-2015 oil price shock? : evidence from the Consumer Expenditure Survey"@en ;
    schema:productID "1030861416" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/1030861416#PublicationEvent/ottawa_bank_of_canada_2018> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/5164182239#Agent/bank_of_canada> ; # Bank of Canada
    schema:url <http://epe.lac-bac.gc.ca/100/201/301/weekly_acquisitions_list-ef/2018/18-11/publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-13-eng.pdf> ;
    schema:url <https://www.deslibris.ca/ID/10096068> ;
    schema:url <http://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-13-eng.pdf> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/1030861416> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/5164182239#Agent/bank_of_canada> # Bank of Canada
    a bgn:Agent ;
    schema:name "Bank of Canada" ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Person/alexander_patrick_d> # Patrick D. Alexander
    a schema:Person ;
    schema:familyName "Alexander" ;
    schema:givenName "Patrick D." ;
    schema:name "Patrick D. Alexander" ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Person/poirier_louis> # Louis Poirier
    a schema:Person ;
    schema:familyName "Poirier" ;
    schema:givenName "Louis" ;
    schema:name "Louis Poirier" ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Place/united_states> # United States.
    a schema:Place ;
    schema:name "United States." ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/coefficient_of_determination> # Coefficient of determination
    a schema:Intangible ;
    schema:name "Coefficient of determination"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consommation_economie_politique_etats_unis> # Consommation (Économie politique)--États-Unis
    a schema:Intangible ;
    schema:name "Consommation (Économie politique)--États-Unis"@fr ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consumer_price_index> # Consumer price index
    a schema:Intangible ;
    schema:name "Consumer price index"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consumption_economics> # Consumption (Economics)
    a schema:Intangible ;
    schema:name "Consumption (Economics)"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/consumption_economics_united_states> # Consumption (Economics)--United States
    a schema:Intangible ;
    schema:name "Consumption (Economics)--United States"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/economy_of_the_united_states> # Economy of the united states
    a schema:Intangible ;
    schema:name "Economy of the united states"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/errors_and_residuals> # Errors and residuals
    a schema:Intangible ;
    schema:name "Errors and residuals"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/fixed_effects_model> # Fixed effects model
    a schema:Intangible ;
    schema:name "Fixed effects model"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/ordinary_least_squares> # Ordinary least squares
    a schema:Intangible ;
    schema:name "Ordinary least squares"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/personal_consumption_expenditures_price_index> # Personal consumption expenditures price index
    a schema:Intangible ;
    schema:name "Personal consumption expenditures price index"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/petroleum_products_prices> # Petroleum products--Prices
    a schema:Intangible ;
    schema:name "Petroleum products--Prices"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/petroleum_products_prices_united_states> # Petroleum products--Prices--United States
    a schema:Intangible ;
    schema:name "Petroleum products--Prices--United States"@en ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/produits_petroliers_prix_etats_unis> # Produits pétroliers--Prix--États-Unis
    a schema:Intangible ;
    schema:name "Produits pétroliers--Prix--États-Unis"@fr ;
    .

<http://experiment.worldcat.org/entity/work/data/5164182239#Topic/regression_analysis> # Regression analysis
    a schema:Intangible ;
    schema:name "Regression analysis"@en ;
    .

<http://publications.gc.ca/collections/collection_2018/banque-bank-canada/FB3-5-2018-13-eng.pdf>
    rdfs:comment "Government of Canada Publications. Freely available." ;
    .

<http://worldcat.org/issn/1701-9397> # Staff working paper (Bank of Canada) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/1030861416> ; # Did U.S. consumers respond to the 2014-2015 oil price shock? : evidence from the Consumer Expenditure Survey
    schema:issn "1701-9397" ;
    schema:name "Staff working paper (Bank of Canada) ;" ;
    schema:name "Bank of Canada staff working paper," ;
    .

<http://www.worldcat.org/title/-/oclc/1030861416>
    a genont:InformationResource, genont:ContentTypeGenericResource ;
    schema:about <http://www.worldcat.org/oclc/1030861416> ; # Did U.S. consumers respond to the 2014-2015 oil price shock? : evidence from the Consumer Expenditure Survey
    schema:dateModified "2019-05-11" ;
    void:inDataset <http://purl.oclc.org/dataset/WorldCat> ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.