Lorde, Troy; Jackman, Mahalia; Thomas, Chrystol - In: Energy Policy 37 (2009) 7, pp. 2708-2716
Using vector autoregressive (VAR) methodology, this paper empirically investigates the macroeconomic effects of oil price fluctuations on Trinidad and Tobago. Overall, we find that the price of oil is a major determinant of economic activity of the country. Our impulse response functions suggest...