Gadea Maria Dolores and Montanes Antonio
Titre Ouvrage:Oil price and economic growth : a long story ?
Édition:University of Saragoza, Banco de Espana, Documentos de Trabajo. Nº 1625
This study investigates changes in the relationship between oil prices and the US economy from a long-term perspective. There is an evidence, by means of a time-varying VAR, that the impact of the oil price shock on GDP growth has declined over time. It can be also observe that the negative effect is greater at the time of large oil price increases, supporting previous evidence of nonlinearity in the relationship.