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Oil pricing policies and macroeconomy for an oil-based economy

โœ Scribed by Majid Ahmadian

Publisher
Elsevier Science
Year
1986
Tongue
English
Weight
505 KB
Volume
8
Category
Article
ISSN
0140-9883

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The goal of this paper is to examine the relationship between real GDP and oil prices using time series data for the period 1970-2005. Our main finding is that an increase in oil has a positive, albeit inelastic, impact on real GDP, inconsistent with the bulk of the literature. We argue that this is