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countries react to oil price shocks come from the source of the shock rather than by the group which the countries belong to …
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, and Turkey). The results showed that all these countries importing oil face a negative supply shock, except Turkey which … benefits directly from an oil price shock. Furthermore, the indirect effect coefficient received through trade for all these …
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demand and supply shocks. The results show that higher macroeconomic uncertainty, as measured by higher world industrial …
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