EconPapers    
Economics at your fingertips  
 

Oil shock and economic growth in Japan: A nonlinear approach

Dayong Zhang ()

Energy Economics, 2008, vol. 30, issue 5, 2374-2390

Abstract: This paper investigates the relationship between oil price shock and economic growth on the basis of the nonlinear approach developed by Hamilton [Hamilton, J., 2001. A parametric approach to flexible nonlinear inference. Econometrica 537-573.]. We use the approach, also in Hamilton [Hamilton, J., 2003. What is an oil shock? Journal of Econometrics 363-398.], of capturing this relationship in Japan in a nonlinear model. The idea is that negative oil price shocks (price increase) tend to have larger impact on growth than positive shocks do. Our empirical evidence confirmed the existence of nonlinearity between these two variables and a flexible nonlinear model is estimated. Additionally, several other form of nonlinearity are estimated and tested.

Date: 2008
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (87) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0140-9883(08)00023-6
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:eneeco:v:30:y:2008:i:5:p:2374-2390

Access Statistics for this article

Energy Economics is currently edited by R. S. J. Tol, Beng Ang, Lance Bachmeier, Perry Sadorsky, Ugur Soytas and J. P. Weyant

More articles in Energy Economics from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2021-08-08
Handle: RePEc:eee:eneeco:v:30:y:2008:i:5:p:2374-2390