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The goal of this paper is to examine the relationship between real GDP and oil prices using time series data for the period 1970-2005. Our main finding is that an increase in oil has a positive, albeit inelastic, impact on real GDP, inconsistent with the bulk of the literature. We argue that...
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Small, open developing economies in general, and small island developing states (SIDS) in particular, have specific … limited data available for many small island states, the model explicitly represents the external macroeconomic balance. An …
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