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.

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.

• Item Type: MPRA Paper
• Language: English
• Keywords: Oil prices, G-7 Countries, GDP growth, Pooled Model
• Subjects: E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E30 - General; Q - Agricultural and Natural Resource Economics ; Environmental and Ecological Economics > Q4 - Energy > Q40 - General; A - General Economics and Teaching > A1 - General Economics > A10 - General

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