Should oil prices receive so much attention? An evaluation of the predictive power of oil prices for the U.S. economy.: An article from: Economic Inquiry

This digital document is an article from Economic Inquiry, published by Western Economic Association International on October 1, 2008. The length of the article is 8896 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available immediately after purchase. You can view it with any web browser.

From the author: This paper evaluates the potential gains from using oil prices to forecast a variety of measures of inflation, economic activity, and monetary policy--related variables. With a few exceptions, oil prices do not have any predictive content for these variables. This finding is robust to the use of rolling forecast windows, the use of industry-level data, changes in the forecast horizon, and allowing for nonlinearities. (JEL Q43, E37, C32)

Citation Details
Title: Should oil prices receive so much attention? An evaluation of the predictive power of oil prices for the U.S. economy.
Author: Lance Bachmeier
Publication:Economic Inquiry (Magazine/Journal)
Date: October 1, 2008
Publisher: Western Economic Association International
Volume: 46 Issue: 4 Page: 528(12)

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