000060645 001__ 60645 000060645 005__ 20170327111935.0 000060645 0247_ $$2doi$$a10.3390/econometrics4040041 000060645 0248_ $$2sideral$$a98046 000060645 037__ $$aART-2016-98046 000060645 041__ $$aeng 000060645 100__ $$0(orcid)0000-0001-6609-4247$$aGadea, M.D.$$uUniversidad de Zaragoza 000060645 245__ $$aOil Price and Economic Growth: A Long Story? 000060645 260__ $$c2016 000060645 5060_ $$aAccess copy available to the general public$$fUnrestricted 000060645 5203_ $$aThis study investigates changes in the relationship between oil prices and the US economy from a long-term perspective. Although neither of the two series (oil price and GDP growth rates) presents structural breaks in mean, we identify different volatility periods in both of them, separately. From a multivariate perspective, we do not observe a significant effect between changes in oil prices and GDP growth when considering the full period. However, we find a significant relationship in some subperiods by carrying out a rolling analysis and by investigating the presence of structural breaks in the multivariate framework. Finally, we obtain evidence, by means of a time-varying VAR, that the impact of the oil price shock on GDP growth has declined over time. We also observe that the negative effect is greater at the time of large oil price increases, supporting previous evidence of nonlinearity in the relationship. 000060645 536__ $$9info:eu-repo/grantAgreement/ES/MEC/ECO2014-58991-C3-1-R$$9info:eu-repo/grantAgreement/ES/MEC/ECO2014-58991-C3-2-R$$9info:eu-repo/grantAgreement/ES/MEC/ECO2015-65967-R 000060645 540__ $$9info:eu-repo/semantics/openAccess$$aby$$uhttp://creativecommons.org/licenses/by/3.0/es/ 000060645 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/publishedVersion 000060645 700__ $$aGómez-Loscos, Ana 000060645 700__ $$0(orcid)0000-0002-5872-631X$$aMontañés, Antonio$$uUniversidad de Zaragoza 000060645 7102_ $$14000$$2415$$aUniversidad de Zaragoza$$bDepartamento de Análisis Económico$$cFundamentos del Análisis Económico 000060645 7102_ $$14008$$2225$$aUniversidad de Zaragoza$$bDepartamento de Estructura e Historia Económicas y Economía Pública$$cEconomía Aplicada 000060645 773__ $$g4, 4 (2016), [28 pp.]$$pEconometrics$$tEconometrics$$x2225-1146 000060645 8564_ $$s450186$$uhttps://zaguan.unizar.es/record/60645/files/texto_completo.pdf$$yVersión publicada 000060645 8564_ $$s96852$$uhttps://zaguan.unizar.es/record/60645/files/texto_completo.jpg?subformat=icon$$xicon$$yVersión publicada 000060645 909CO $$ooai:zaguan.unizar.es:60645$$particulos$$pdriver 000060645 951__ $$a2017-03-14-14:28:58 000060645 980__ $$aARTICLE