The Real Price of Oil and the 1970s World Inflation
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This paper shows that the effects on real income and the price level of the 1973-1974 oil price increase are quite ambiguous on both theoretical and empirical grounds. The theoretical analysis reviews standard results and extends them to analyze the steady-state equilibrium and endogenous monetary
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美国国家经济研究局创建时间：
1981-02-01
