John Cochrane posted a nice comment [blogspot.co.uk] on the paper that Rabah Arezki presented last term at OxCARRE's seminar series, "News Shocks in Open Economies: Evidence from Giant Oil Discoveries" (co-authored with Valerie A. Ramey and Liugang Sheng). See here [blogspot.co.uk] for our original post. Currently also an OxCARRE working paper [ox.ac.uk], here [pdf, ox.ac.uk]
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