Investigating the Effect of Oil Revenue Shocks on Business Cycles and the Synchronism of Cycles with Selected OECD Countries

Table 5

Short-term estimation results: ARDL (1, 0, 0, 0, 1).

Variables	Coefficients	t-statistic	Prob
CYCLE (−1)	0.3444	1.6953	0.1041
LG	−0.2824	−2.9545	0.0073
LRE	0.02642	2.3044	0.0310
SHOCKP	−69.5772	−2.5509	0.0182
SHOCKT	−19.7234	−2.1890	0.0395
SHOCKT (−1)	−24.7256	−2.4926	0.0207
C	0.8785	2.8838	0.0086