Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
996869 | Energy Policy | 2006 | 6 Pages |
Abstract
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 standard cointegration is rejected, there is evidence for asymmetric cointegration between oil prices and GDP in the majority of the considered European countries.
Keywords
Related Topics
Physical Sciences and Engineering
Energy
Energy Engineering and Power Technology
Authors
Sandrine Lardic, Valérie Mignon,