A copy of this work was available on the public web and has been preserved in the Wayback Machine. The capture dates from 2018; you can also visit the original URL.
The file type is
For oil importers, differences in economic performance after the 1973-74 oil price increase and after the 1979-80 increase can be attributed to a number of factors, including the fact that the 1973-74 oil price increase was unexpected whereas the 1979-80 increase was largely expected. In this paper, we analyze how an economy's adjustment to expected oil price increases might differ from its adjustment to unexpected increases. By expected oil price increases, we shall mean ones that weredoi:10.3386/w0997 fatcat:4idj6w7uvne4pak5jrrgvqxkiq