Historical oil shocks
By: James D. Hamilton
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16790; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16790.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "This paper surveys the history of the oil industry with a particular focus on the events associated with significant changes in the price of oil.  Although oil was used much differently and was substantially less important economically in the nineteenth century than it is today, there are interesting parallels between events in that era and more recent developments.  Key post-World-War-II oil shocks reviewed include the Suez Crisis of 1956-57, the OPEC oil embargo of 1973-1974, the Iranian revolution of 1978-1979, the Iran-Iraq War initiated in 1980, the first Persian Gulf War in 1990-91, and the oil price spike of 2007-2008.  Other more minor disturbances are also discussed, as are the economic downturns that followed each of the major postwar oil shocks"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 5/17/2011.

Includes bibliographical references.

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