Lee, Kiseok; Ni, Shawn; Ratti, Ronald A. - In: The Energy Journal Volume16 (1995) Number 4, pp. 39-56
In this paper we argue that an oil price change is likely to have greater impact on real GNP in an environment where oil prices have been stable, than in an environment where oil price movement has been frequent and erratic. An oil price shock variable reflecting both the unanticipated component...
