Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship

Sahbi Farhanı

EN

Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship

Abstract

The two oil shocks of the 1970s reduced the GDP growth rate, and since that period, sudden oil price increases have been considered as a major source of economic slowdown in the world. We thus estimate simple linear regression model (SLRM), dynamic regression model (DRM) and VAR model to evaluate the impact of oil price increases on the U.S economic growth. Our results indicate strong weaknesses on the relation between these two factors in what way that the relation has had a low significant effect caused by the existence of breakpoints and the asymmetric effects of the oil price variations.

Keywords

Oil shocks, GDP growth rate, SLRM, DRM, VAR model, Breakpoints, Asymmetrical effects.

Details

Primary Language

English

Subjects

-

Journal Section

-

Authors

Sahbi Farhanı This is me

Publication Date

September 1, 2012

Submission Date

September 1, 2012

Acceptance Date

-

Published in Issue

Year 2012 Volume: 2 Number: 3

IZ

https://izlik.org/JA72BN98HX

Cite

RIS / Bibtex

APA

Farhanı, S. (2012). Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship. International Journal of Energy Economics and Policy, 2(3), 108-122. https://izlik.org/JA72BN98HX

AMA

1.Farhanı S. Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship. IJEEP. 2012;2(3):108-122. https://izlik.org/JA72BN98HX

Chicago

Farhanı, Sahbi. 2012. “Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship”. International Journal of Energy Economics and Policy 2 (3): 108-22. https://izlik.org/JA72BN98HX.

EndNote

Farhanı S (September 1, 2012) Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship. International Journal of Energy Economics and Policy 2 3 108–122.

IEEE

[1]S. Farhanı, “Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship”, IJEEP, vol. 2, no. 3, pp. 108–122, Sept. 2012, [Online]. Available: https://izlik.org/JA72BN98HX

ISNAD

Farhanı, Sahbi. “Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship”. International Journal of Energy Economics and Policy 2/3 (September 1, 2012): 108-122. https://izlik.org/JA72BN98HX.

JAMA

1.Farhanı S. Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship. IJEEP. 2012;2:108–122.

MLA

Farhanı, Sahbi. “Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship”. International Journal of Energy Economics and Policy, vol. 2, no. 3, Sept. 2012, pp. 108-22, https://izlik.org/JA72BN98HX.

Vancouver

1.Sahbi Farhanı. Impact of Oil Price Increases on U.S. Economic Growth: Causality Analysis and Study of the Weakening Effects on the Relationship. IJEEP [Internet]. 2012 Sep. 1;2(3):108-22. Available from: https://izlik.org/JA72BN98HX