![](http://florent.mcisaac.fr/wp-content/uploads/2013/04/papier0-570x350.png)
Abstract: The economic implications of oil price shocks have been extensively studied since the 1970s. Despite this huge literature, no dynamic stochastic general equilibrium model was available that captures two well-known stylized facts: (1) the stagflationary impact of an oil price shock, together with (2) the influence of the energy […]