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between host countries). For this, we use a panel data set of U.S. foreign affiliate sales to 16 developed countries in 7 …
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This paper investigates the global macroeconomic consequences of falling oil prices due to the oil revolution in the United States, using a Global VAR model estimated for 38 countries/regions over the period 1979Q2 to 2011Q2. Set-identification of the U.S. oil supply shock is achieved through...
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