Gadea Rivas, María Dolores; Montañés Bernal, Antonio; … - 2016
series (oil price and GDP growth rates) presents structural breaks in mean, we identify different volatility periods in both … prices and GDP growth when considering the full period. However, we find a signifi cant relationship in some subperiods by …, we obtain evidence, by means of a time-varying VAR, that the impact of the oil price shock on GDP growth has declined …