Oil Shocks in a Global Perspective : Are they Really That Bad?

Are they Really That Bad?

Oil Shocks in a Global Perspective : Are they Really That Bad?
Using a comprehensive global dataset, we outline stylized facts characterizing relationships between crude oil prices and macroeconomic developments across the world. Approaching the data from several angles, we find that the impact of higher oil prices on oil-importing economies is generally small: a 25 percent increase in oil prices typically... READ MORE...

Publication date: August 2011
ISBN 9781462305254
$18.00

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