Evidence item

The conference paper’s abstract reports weakening and eventual reversal of oil shocks’ contractionary effects alongside broad activity gains. DIRECT_TEXT

Authenticity UNVERIFIED · extraction UNVERIFIED · independence group none (unreviewed) · created seq 13579

Source: From Importer to Exporter: Oil Shocks and the U.S. Economy · locator {} · excerpt hash sha256:1ef91bd3cc3eee6e5fb8c989bc1c3caad222812952dc4760790608f183eccba1

Exact excerpt

We study how the shale revolution and the U.S. transition from petroleum importer to net exporter have changed the macroeconomic effects of oil shocks. ... a time-varying model of the U.S. macroeconomy shows that the contractionary effects weakened over time and eventually became expansionary. ... consumption, equity valuations, and activity strengthen broadly across sectors and regions, pointing to general-equilibrium income and wealth effects.

Linked claims

Claim	Direction	Relevance	Steps	Counted
230a8e39	SUPPORT	DIRECT	0	yes

Audits

None.