Oil shocks and the macro-economy: a comparison across high oil price periods
Oil prices are found to exert nonlinear effects on major advanced economies. Real output's reaction is much more visible during the periods of high oil prices of the mid-1970s and early 1980s. Oil prices have had inflationary consequences in several economies not only in those two periods, but also during the spike of 1990. There is also evidence that inflation has picked up in some economies as a result of the oil price hikes of 1999-2000, and even more recently in the case of the US.
Year of publication: |
2009
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Authors: | Jimenez-Rodriguez, Rebeca ; Sanchez, Marcelo |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 16.2009, 16, p. 1633-1638
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Publisher: |
Taylor & Francis Journals |
Saved in:
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