Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2009
acting as a proxy for the (missing) market interest rate. Real output in the long run is shaped by oil exports through their … regularity conditions and assuming a Cobb Douglas production function, it is shown that (log) oil exports enter the long run … money balances, inflation, real exchange rate, oil exports, and foreign real output, the paper finds clear evidence for two …
