Oil shock and economic growth in Japan: A nonlinear approach

Energy Economics

Volumn 30, Issue 5, 2008, Pages 2374-2390

  Zhang, Dayong ^a  

^a SOUTHWESTERN UNIVERSITY OF FINANCE AND ECONOMICS   (China)

Author keywords

Economic growth; Nonlinearity structural stability; Oil shock

Indexed keywords

ESTIMATION;

ECONOMIC GROWTHS; ELSEVIER (CO); EMPIRICAL EVIDENCES; HAMILTON (CO); NON LINEAR MODELING; NON-LINEAR APPROACH; NONLINEARITY (INCLUDING BIFURCATION THEORY); OIL PRICES; PARAMETRIC APPROACH; PRICE INCREASES;

ECONOMICS;

ECONOMIC GROWTH; MARKET CONDITIONS; NONLINEARITY; OIL PRODUCTION; OIL SUPPLY; PRICE DYNAMICS; STABILIZATION;

ASIA; EURASIA; FAR EAST; JAPAN;

EID: 48049105272     PISSN: 01409883     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.eneco.2008.01.006     Document Type: Article

References (22)

1. Abel A.B. Asset prices under habit formation and catching up with the Joneses. American Economic Review 80 (1990) 38-42
2. Andrews D. Tests for parameter instability and structural change with unknown change point. Econometrica 61 (1993) 821-856
3. Andrews D., and Ploberger W. Optimal tests when a nuisance parameter is present only under the alternative. Econometrica 62 (1994) 1383-1414
4. Atkeson A., and Kehoe P. Models of energy use: putty-putty versus putty-clay. American Economic Review 89 (1999) 1028-1043
5. Balke N., Brown S., and Yücel M. Oil price shocks and the US economy: where does the asymmetry originate?. Working paper (1999), Federal Reserve Bank of Dallas
6. Brown S., and Yücel M. Energy prices and aggregate economic activity: an interprettive survey. Quarterly Review of Economics and Finance 42 (2002) 193-208
7. Cunado J., and de Gracia F. Do oil shocks matter? Evidence for some European countries. Energy Economics 25 (2003) 137-154
8. Cunado J., and de Gracia F.P. Oil prices, economic activity and inflation: evidence for some asian countries. The Quarterly Review of Economics and Finance 45 (2005) 65-83
9. Ferdered J. Oil price volatility and the macroeconomy: a solution to the asymmetry puzzle. Journal of Macroeconomics 18 (1996) 1-16
10. Gisser M., and Goodwin T. Crude oil and the macroeconomy: tests of some popular notions. Journal of Money, Credit and Banking 18 (1986) 95-103
11. Hamilton J. A parametric approach to flexible nonlinear inference. Econometrica 69 (2001) 537-573
12. Hamilton J. What is an oil shock?. Journal of Econometrics 113 (2003) 363-398
13. Hamilton J. Oil and the macroeconomy since World War II. Journal of Political Economy 91 (1983) 228-248
14. Hamilton J. This is what happened to the oil price-macroeconomy relationship. Journal of Monetary Economics 38 (1996) 215-220
15. Hansen B. Approximate asymptotic p-values for structural change tests. Journal of Business and Economic Statistics 15 (1997) 60-67
16. Hansen B. Testing for structural change in conditional models. Journal of Econometrics 97 (2000) 93-115
17. Hooker M. What happended to the oil price-macroeconomy relationship?. Journal of Monetary Economics 38 (1996) 195-213
18. Lardic S., and Mignon V. The impact of oil prices on GDP in European countries: An empirical investigation based on asymmetric cointegration. Energy Policy 34 (2006) 3910-3915
19. Lardic, S., Mignon, V., in press. Oil prices and economic activity: An asymmetric cointegration approach., Energy Economics. doi:10.1016/j.eneco.2006.10.010.
20. Lee K., Ni S., and Ratti R. Oil shocks and the macroeconomy: the role of price variability. Energy Journal 16 (1995) 39-56
21. Mork K. Oil and the macroeconomy when prices go up and down: an extension of Hamilton's results. Journal of Political Economy 91 (1989) 740-744
22. Rotemberg J., and Woodford M. Imperfect competition and the effects of energy price increases. Journal of Money, Credit and Banking 28 (1996) 549-577