Oil and the Macroeconomy Since the 1970s

相似文件 换一批

是 否 +2 论坛币

k人 参与回答

经管之家送您一份

应届毕业生专属福利!

求职就业群

赵安豆老师微信：zhaoandou666

经管之家联合CDA

送您一个全额奖学金名额~ !

立即领取

感谢您参与论坛问题回答

经管之家送您两个论坛币！

+2 论坛币

Abstract

Increases in oil prices have been held responsible for recessions, periods of excessive inflation, reduced productivity and lower economic growth. In this paper, we review the arguments supporting such views. First, we highlight some of the conceptual difficulties in assigning a central role to oil price shocks in explaining macroeconomic fluctuations, and we trace how the arguments of proponents of the oil view have evolved in response to these difficulties. Second, we challenge the notion that at least the major oil price movements can be viewed as exogenous with respect to the US macroeconomy. We examine critically the evidence that has led many economists to ascribe a central role to exogenous political events in modeling the oil market, and we provide arguments in favor of 'reverse causality' from macroeconomic variables to oil prices. Third, although none of the more recent oil price shocks has been associated with stagflation in the US economy, a major reason for the continued popularity of the oil shock hypothesis has been the perception that only oil price shocks are able to explain the US stagflation of the 1970s. We show that this is not the case.

4865.rar (169.96 KB) 本附件包括：

• Oil and the Macroeconomy Since the 1970s.pdf

2004-12-6 00:43:00 上传

Oil and the Macroeconomy Since the 1970s

扫码加我 拉你入群

请注明：姓名-公司-职位

以便审核进群资格，未注明则拒绝

分享0 收藏0 回帖

关键词：macroeconomy MacroEcon macroeco Economy econom Oil Since macroeconomy

前面贴子中介绍的网站都还不错，很多精彩的文章和资料都是免费的，看到好东西大家都拿来分享一下？

大家齐心协力繁荣国经版！！

多做奉献者，本版主还多有奖励哦

[em07]

thank u.

谢谢了，非常感谢。不错。

thanks,rebecca

感谢楼主，我也正在学习宏观经济学

很不错的文章

谢谢

谢谢

收了，非常感谢楼主