Jin, Jang C.; Choi, Jai-Young; Yu, Eden S.H. - In: International Review of Economics & Finance 18 (2009) 4, pp. 691-699
The effects of energy prices and energy conservation on economic growth have been examined empirically for the postwar U.S. economy. A vector autoregressive model includes real GDP, real capital, labor, real energy prices, and the Divisia energy index. A key feature of our finding is that some...