Oil price shocks benefit all Canadian provinces, post-2000 impact revealed.
Oil price shocks have different effects on different regions and countries. This study looked at how these shocks affect different provinces in Canada, which have varying levels of oil production and consumption. The researchers found that oil price shocks have positive impacts on both oil-exporting and oil-importing provinces in Canada. These effects are stronger after the year 2000 and differ depending on whether the oil price shock is positive or negative. This shows that the impact of oil price shocks can vary within a country depending on the region's economic activities.