Herrera, Ana María; Lagalo, Latika Gupta; Wada, Tatsuma - In: Macroeconomic Dynamics 15 (2011) S3, pp. 472-497
This paper tests the three leading specifications of asymmetric and possibly nonlinear feedback from the real price of oil to U.S. industrial production and its sectoral components. We show that the evidence for such feedback is sensitive to the estimation period. Support for a nonlinear model...