Crude oil prices and U.S. economic performance: where does the asymmetry reside? From: The Energy Journal | Date: October 1, 1998| Author: Huntington, Hillard G. | COPYRIGHT 1998 International Association for Energy Economics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

A study conducted to examine the impact of sustained decreases in crude oil prices on the US economy showed that a significant part of the observed asymmetry is due to adjustments within the energy sector and not within the rest of the economy. No differences were found on the macroeconomic impacts of the sustained decreases and increases in petroleum product or general energy prices. For instance, the 1986 oil price collapse did not operate in isolation from other important events.

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