We estimate the effects of unexpected changes in oil prices on output for the case of Venezuela, an oil-exporting economy. Following Hamilton (2003), Lee et al. (1995), and Mork (1989), we estimate measures of oil shocks and determine the effect of theseOil shocks, output fluctuations, nonlinear estimation

David Vera

Omar Mendoza

English

Research Papers in Economics

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The Asymmetric Effects of Oil Shocks on an Oil-exporting Economy

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The Asymmetric Effects of Oil Shocks on an Oil-exporting Economy

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