The impact of oil prices on GDP in Europ
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Sandrine Lardic; ValΓ©rie Mignon
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Article
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2006
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Elsevier Science
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English
β 168 KB
This paper investigates the existence of a long-term relationship between oil prices and GDP in 12 European countries. To account for the fact that economic activity responds asymmetrically to oil price shocks, we propose an approach based on asymmetric cointegration. Our results show that, while st