Martín Mayoral, Fernando; Carvajal, Alexander - In: Estudios de economía 50 (2023) 2, pp. 379-412
We analyse the non-linear relationship between oil price shocks and the real business cycle in Ecuador, a dollarized economy where oil exports are the country's main source of foreign exchange. We estimate several autoregressive Markov switching models for the period 2000:01-2020:01 to identify...
