|
The Comparative Assessment of Differences of Oil Prices Increasing in Recent Years with Oil Price Shocks in 1970s
|
Ali Asqar Esmaiel Nia *   , Saiedeh Shafiei |
| , Alesmailnia@yahoo.com |
|
|
Abstract: (13154 Views) |
| In this paper we study the macroeconomic performance of a set of
industrialized economies in the after math of the oil price shocks of
the 1970s and of the last decade.We imagine oil prices over the past 5
years don't appear to have led to a slow-down these economies, more
over the impacts of high oil prices is shown to be so much smaller
today than in 1973 and 1979. In order to evaluate these hypotheses, an
econometric model is based on OLS approach in thisover the observed
period. Finally we concluded that a number factor has played an
important role: monetary policy, decreasing role of oil in production
and consumption, changes in labour market, geopolitics problems. |
|
| Keywords: Oil Price, Economic Growth, Inflation, 7 Industrial Countries (G7) |
|
|
Full-Text [PDF 453 kb]
(2614 Downloads)
|
|
Type of Study: Research |
Subject:
General
|
|
|
|
|
|
|
| Send email to the article author |
|
|
|
| Add your comments about this article |
|
|
|
