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US stock market regimes and oil price shocks

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Figure

Table 1. Descriptive statistics of the variables under investigation. The sample period runs from January 1989 to December, 2011
Table 2. Correlation coefficients of the variables under investigation. The sample period runs from January 1989 to December, 2011
Table 3.  The estimated coefficients of the regime switching model.  )
Table 4. Probit regression results:
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