Baumeister, Christiane; Kilian, Lutz - 2017
hence in the U.S. price of gasoline after June 2014. Our analysis suggests that this decline produced a cumulative stimulus … investment and an additional stimulus of 0.04 percentage points reflecting a shrinking petroleum trade deficit. This stimulating … effect, however, has been largely offset by a large reduction in real investment by the oil sector. Hence, the net stimulus …