Real Output Growth Response to a 10 Percent Increase in Oil Price
Note: Stylized graph of response of real GDP to a 10% increase in oil prices based on dynamics estimated over the 1984–2005 period.
Source: Sill, Keith. 2007. “The Macroeconomics of Oil Shocks.” Federal Reserve Bank of Philadelphia, Business Review Q1: 21–31.
Note: Stylized graph of response of real GDP to a 10% increase in oil prices based on dynamics estimated over the 1984–2005 period.
Source: Sill, Keith. 2007. “The Macroeconomics of Oil Shocks.” Federal Reserve Bank of Philadelphia, Business Review Q1: 21–31.