The Global Macroeconomic Effects of Changing Oil Prices

Graham Bird

Chapter 12 in International Macroeconomics, 1987, pp 159-166 from Palgrave Macmillan

Abstract: Abstract One of the principal economic phenomena of the period since the early 1970s has been the fluctuating price of oil. As shown by Table 12.1 this rose dramatically in 1973–74, rose again at the end of the 1970s and then stabilised and fell during the first half of the 1980s.

Keywords: Real Wage; Leftward Shift; Macroeconomic Consequence; Marginal Propensity; Average Propensity (search for similar items in EconPapers)
Date: 1987
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DOI: 10.1007/978-1-137-09829-0_12

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