NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Nonlinearities and the Macroeconomic Effects of Oil Prices

James D. Hamilton

NBER Working Paper No. 16186
Issued in July 2010

---- Acknowledgements -----

I thank Rob Vigfusson for graciously sharing his data and helping me follow his code. An earlier version of this paper was circulated under the title, "Yes, the Response of the U.S. Economy to Energy Prices is Nonlinear." The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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