This is what happened to the oil price macroeconomy relationship

• 成果类型: Article
• 署名作者: Hamilton, JD
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/S0304-3932(96)01282-2
• 发表日期: 1996
• 页码: 215-220
• 关键词: macroeconomic fluctuations; oil price shocks

摘要

Many of the quarterly oil price increases observed since 1985 are corrections to even bigger oil price decreases the previous quarter. When one looks at the net increase in oil prices over the year, recent data are consistent with the historical correlation between oil shocks and recessions.