Lardic, Sandrine; Mignon, Valérie - In: Energy Economics 30 (2008) 3, pp. 847-855
The aim of this paper is to study the long-term relationship between oil prices and economic activity, proxied by GDP. To account for asymmetries existing in the links between the two variables, we propose an approach based on asymmetric cointegration. Our empirical analysis concerns the U.S....