Work

Oil Shocks: How Destabilizing are they?

Year: 2008

Type: report

Abstract: This note examines Prabhat Patnaik's argument that the contemporary international financial system crucially requires the stability of oil prices in terms of the dollar. By comparing the macroeconomic impact of recent oil shocks to those of the 1970s, it argues that sharp changes in the dollar price of oil need not necessarily lead to instability.

Source: Munich Personal RePEc Archive (Ludwig Maximilian University of Munich)

Author: Jyotirmoy Bhattacharya

Language: English

Topic: Market Dynamics and Volatility

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

Open Access status: green

OpenAlex ID: W2135100493

Cites: 9

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Related to: 10