| 来源类型 | Papers |
| 规范类型 | 报告 |
| Why do Oil Shocks no Longer Shock? | |
| Paul Segal | |
| 发表日期 | 2007-10-01 |
| 出版年 | 2007 |
| 页码 | 18 |
| 语种 | 英语 |
| 概述 | Oil prices and economic cycles have been firmly linked in the public imagination since the oil shocks of the 1970s, and the global recessions that followed. Spurred by these events, economists in the 1980s analysed the relationship in a number of econometric studies, demonstrating a negative correlation in the US and other industrial countries between […] |
| 摘要 | Oil prices and economic cycles have been firmly linked in the public imagination since the oil shocks of the 1970s, and the global recessions that followed. Spurred by these events, economists in the 1980s analysed the relationship in a number of econometric studies, demonstrating a negative correlation in the US and other industrial countries between oil prices and macroeconomic performance. Yet while the association is unambiguous at least in the US up to the early 1980s, at some point thereafter the relationship appeared to attenuate, and in the last few years we have witnessed a steady rise in the price of oil to historically high levels with no observable negative impact on macroeconomic indicators. In this paper I review the literature on the impact of oil price shocks and use the resulting analysis to explain the minimal impact of high oil prices today. |
| 主题 | Energy Economics ; Oil ; Oil & Middle East Programme |
| 关键词 | DSGE Model High Oil Prices Inflation Macroeconomy Mechanism Monetary Policy Oil Prices Oil Shocks The Global Economy WPM 35 WPM35 |
| URL | https://www.oxfordenergy.org/publications/why-do-oil-shocks-no-longer-shock/ |
| 来源智库 | Oxford Institute for Energy Studies (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/312106 |
| 推荐引用方式 GB/T 7714 | Paul Segal. Why do Oil Shocks no Longer Shock?. 2007. |
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| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| WPM35-WhyDoOilShocks（300KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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