Bergholt, Drago; Larsen, Vegard Høghaug - 2016
international business cycle are jointly determined abroad. These features allow us to disentangle the structural sources of oil …-through from oil prices to the oil exporter implies up to 20% higher business cycle volatility. Second, the majority of spillover … shocks, in contrast, explain at most 10% of the Norwegian business cycle. Third, the prevailing fiscal regime provides …