Schmidt, Torsten; Zimmermann, Tobias - In: OECD Journal: Journal of Business Cycle Measurement and … 2011 (2011) 2, pp. 29-47
Despite energy price hikes in recent years, growth rates turned out to be high in most industrialised countries. This pattern starkly contrasts the adverse effects that energy price shocks exerted on growth in the 1970s and 1980s. This study investigates whether a reduction in the energy cost...