Economy
The Second Oil Shock of 1979: Why Energy Inflation Became Harder to Contain
The oil shock of 1978–79 arrived when the United States was still dealing with inflationary expectations from earlier…
Category: Energy & Commodities
Oil, gas, gold, metals and the energy transition: supply, demand and price shocks.
Energy & Commodities
Why Oil Importers Promised Not to Fight the 1974 Energy Crisis With Trade Barriers
A sharp rise in imported oil prices gave consumer countries a powerful incentive to protect their trade balances.…
Economy
The 1973 Oil Shock Was a Supply Shock and a Monetary-Policy Test
The 1973–74 oil crisis exposed how quickly an imported input can disrupt prices, production and international payments. Oil…