The impact of oil shocks on the G-7 countries GDP growth
Usama Al-mulali ()
MPRA Paper from University Library of Munich, Germany
This study examines the impact of oil shocks on the G-7 countries using the time series data from 1975 to 2007. The pooled model was employed; from the results we found that oil shocks has no negative impact on the G-7 countries, due to the flexible labor markets, improvements in monetary policy and smaller share of oil in production, Indirect Tax Analogy, and flexible inflation targeting regimes.
Keywords: Oil prices; G-7 Countries; GDP growth; Pooled Model (search for similar items in EconPapers)
JEL-codes: E30 Q40 A10 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:26846
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