The distributional effects of oil supply news shocks
利用美国收入分布的高频数据，研究石油供给新闻冲击对不同收入群体的异质性影响，发现该冲击对低收入和高收入群体均有显著负面效应，但传导机制不同。
This paper uses high frequency data on the distribution of US income to investigate the heterogeneous effects of oil supply news shocks. Using a FAVAR with an external instrument, We show that these shocks have large negative effects on the left and right tail of the distribution. For low income individuals, the effect is driven by a decline in wages and proprietor’s income, while a fall in corporate profits and interest income drives the effect for affluent individuals.