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The Richer, the Happier? An Empirical Investigation in Selected European Countries

✍ Scribed by Chiara Seghieri; Gustavo Desantis; Maria Letizia Tanturri

Book ID
106531218
Publisher
Springer Netherlands
Year
2006
Tongue
English
Weight
247 KB
Volume
79
Category
Article
ISSN
0303-8300

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The impact of oil prices on GDP in Europ
The impact of oil prices on GDP in European countries: An empirical investigation based on asymmetric cointegration
✍ Sandrine Lardic; ValΓ©rie Mignon πŸ“‚ Article πŸ“… 2006 πŸ› Elsevier Science 🌐 English βš– 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