Author

Jongbyung Jun

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Open access Sep 2026

Why Do Oil Prices and Output Move Together? State-Dependent Evidence

This paper reexamines the relationship between oil prices and U.S. industrial production using monthly data from January 1974 to August 2025. We document three empirical patterns. First, the full-sample correlation between oil price changes and industrial production growth is positive, contrary to the conventional view...

Jongbyung Jun · International Journal of Ene... · 0 citations