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This paper contributes to the large debate regarding the impact of oil price changes on U.S. GDP growth. Firstly, it replicates empirical findings of prominent studies and finds that the proposed oil price measures have a dissipating effect with recent data up to 2016Q4. Secondly, it re-examines...
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production, have not yet been taken into account by the mainstream theory of economic growth. Novel econometric analyses, however … perspective contributes to resolving the paradox that energy hardly matters in mainstream growth theory, whereas it is an issue of …
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