The Effects of Oil Price Changes on the Industry-Level Production and Prices in the U.S. and Japan

In this paper, we decompose oil price changes into their component parts following Kilian (2009) and estimate the dynamic effects of each component on industry-level production and prices in the U.S. and Japan using identified VAR models. The way oil price changes affect each industry depends on本文遵循基利安（Kilian, 2009）的研究范式，将原油价格变动拆解为各项组成部分，并采用已识别的向量自回归（VAR）模型，估算各组成部分对美国与日本各行业层面的生产及价格水平的动态影响。原油价格变动对各行业的影响方式取决于