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This paper shows that the effects on real income and the price level of the 1973-1974 oil price increase are quite ambiguous on both theoretical and empirical grounds. The theoretical analysis reviews standard results and extends them to analyze the steady-state equilibrium and endogenous...
Persistent link: https://www.econbiz.de/10013238726
This paper presents evidence on why inflation pass-through from oil shocks in the 21st century relative to the 1970s … has been a reduction in inflation pass-through from oil supply and speculative oil demand shocks. Movements in oil …
Persistent link: https://www.econbiz.de/10013063127
for the mild effects on inflation and economic activity of the recent increase in the price of oil: (a) good luck (i …
Persistent link: https://www.econbiz.de/10012751823
This paper shows that the effects on real income and the price level of the 1973-1974 oil price increase are quite ambiguous on both theoretical and empirical grounds. The theoretical analysis reviews standard results and extends them to analyze the steady-state equilibrium and endogenous...
Persistent link: https://www.econbiz.de/10012478494
for the mild effects on inflation and economic activity of the recent increase in the price of oil: (a) good luck (i …
Persistent link: https://www.econbiz.de/10012465282
Persistent link: https://www.econbiz.de/10012418811
Persistent link: https://www.econbiz.de/10012321162
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