Aguiar-Conraria, Luís (contributor); Wen, Yi (contributor) - 2005
of the recession in 1974-75 and the strong revival in 1976-78 based on the oil price movements in
that period. This paper …-�ltered data (the bottom panel in Figure
1), the fall in investment during an average recession prior to the 1973 oil shock was … several major puzzles associated with the 1975 recession following the oil shock
in 1973-74:
1). Why was the recession so deep …