Apergis, Nicholas; Aslan, Alper; Aye, Goodness C.; … - Department of Economics, Faculty of Economic and … - 2014
This paper investigates the dynamic relationship between oil prices and growth across the U.S. States using a panel … prices into cumulative sums of positive and negative oil prices. The null hypothesis of no cointegration is rejected. The … long-run coefficients are found to be statistically significant across all empirical models, with positive oil prices …