Oil Price Shocks and Real GDP Growth: Testing for Non-linearity

Rebeca Jiménez-Rodríguez

The Energy Journal, 2009, vol. 30, issue 1, 1-24

Abstract: This paper presents evidence of a non-linear relationship between real GDP growth and oil price changes for the US economy. We also argue that this non-linearity is not merely due to the use of data from the mid-1980s onwards, as most authors, so far, seem to believe. In fact, we find the existence of non-linearity with the use of data earlier than 1984, and even before 1977. Furthermore, we question that the non-linear transformations of oil prices proposed in the literature are the most appropriate ones for reflecting such non-linearity.

Keywords: Oil price shocks; Non-linearity; GDP; US (search for similar items in EconPapers)
Date: 2009
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Persistent link: https://EconPapers.repec.org/RePEc:sae:enejou:v:30:y:2009:i:1:p:1-24

DOI: 10.5547/ISSN0195-6574-EJ-Vol30-No1-1

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