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The impact of oil shocks on the G-7 countries GDP growth

Al-mulali, Usama (2010): The impact of oil shocks on the G-7 countries GDP growth.

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Abstract

This study examines the impact of oil shocks on the G-7 countries using the time series data from 1975 to 2007. The pooled model was employed; from the results we found that oil shocks has no negative impact on the G-7 countries, due to the flexible labor markets, improvements in monetary policy and smaller share of oil in production, Indirect Tax Analogy, and flexible inflation targeting regimes.

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