NDLI: What is an oil shock? Panel data evidence

Content Provider	Springer Nature Link
Author	Kim, Dong Heon
Copyright Year	2011
Abstract	This article characterizes the nonlinear relation between oil price change and GDP growth, focusing on the panel data of various industrialized countries. Toward this end, the article extends a flexible nonlinear inference to the panel data analysis where the random error components are incorporated into the flexible approach. The article reports clear evidence of nonlinearity in the panel and confirms earlier claims in the literature—oil price increases are statistically and economically significant while oil price decreases are not and previous upheaval in oil prices causes the marginal effect of any given oil price change to be reduced. Our result suggests that the nonlinear oil–macroeconomy relation is generally observable over different industrialized countries and it is desirable for one to use the nonlinear function of oil price change for GDP forecast.
Starting Page	121
Ending Page	143
Page Count	23
File Format	PDF
ISSN	03777332
Journal	Empirical Economics
Volume Number	43
Issue Number	1
e-ISSN	14358921
Language	English
Publisher	Springer-Verlag
Publisher Date	2011-03-22
Publisher Place	Berlin, Heidelberg
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Oil shock Nonlinear flexible inference Panel data Error components model Economic fluctuation Economic Theory Statistics for Business/Economics/Mathematical Finance/Insurance Econometrics
Content Type	Text
Resource Type	Article
Subject	Statistics and Probability Social Sciences Economics and Econometrics

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

Seemingly unrelated regressions with spatial error components

What is unemployment in Europe? Concepts and measurement in the European community household panel

Subjective well-being and the family: Results from an ordered probit model with multiple random effects

Saving and habit formation: evidence from Dutch panel data

Does ownership affect firms’ efficiency? Panel data evidence on Italy

The predictive value of subjective labour supply data: A partial-adjustment model with measurement error

Inequality and criminality revisited: further evidence from Brazil

Twin deficits: new evidence from a developing (oil vs. non-oil) countries’ perspective

Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms

What is an oil shock? Panel data evidence

Similar Documents

Seemingly unrelated regressions with spatial error components

What is unemployment in Europe? Concepts and measurement in the European community household panel

Subjective well-being and the family: Results from an ordered probit model with multiple random effects

Saving and habit formation: evidence from Dutch panel data

Does ownership affect firms’ efficiency? Panel data evidence on Italy

The predictive value of subjective labour supply data: A partial-adjustment model with measurement error

Inequality and criminality revisited: further evidence from Brazil

Twin deficits: new evidence from a developing (oil vs. non-oil) countries’ perspective

Patents, R&D and lag effects: evidence from flexible methods for count panel data on manufacturing firms

What is an oil shock? Panel data evidence