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The Two OPEC Recessions (1973–5 and 1979–82)

Christopher Dow

in Major Recessions: Britain and the World 1920-1995

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199241231
eISBN:
9780191596179
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199241236.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

The recession of 1973–75 was the first occasion since the war when total output fell absolutely, and it was followed six years later by the recession of 1979–82, when output again showed an absolute ... More


Sino-Russian Energy Relations: An Uncertain Courtship

Erica S. Downs

in The Future of China-Russia Relations

Published in print:
2009
Published Online:
September 2011
ISBN:
9780813125633
eISBN:
9780813135359
Item type:
chapter
Publisher:
University Press of Kentucky
DOI:
10.5810/kentucky/9780813125633.003.0006
Subject:
Political Science, International Relations and Politics

This chapter explores the current state of China–Russia energy trade. It then addresses the forces of convergence and divergence shaping their energy relations. Next, the role that energy plays in ... More


1974—Marking Time

Douglas Wass

in Decline to Fall: The Making of British Macro-economic Policy and the 1976 IMF Crisis

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199534746
eISBN:
9780191715884
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199534746.003.0002
Subject:
Economics and Finance, Economic History

This chapter looks at the origins of the inflation which struck the developed world in the early 1970s, and the huge balance of payments imbalances which followed the explosion of oil prices in 1973. ... More


Kazakhstan

Richard Pomfret

in The Central Asian Economies in the Twenty-First Century

Published in print:
2019
Published Online:
May 2019
ISBN:
9780691182216
eISBN:
9780691185408
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691182216.003.0004
Subject:
Business and Management, International Business

This chapter discusses the national economy and transition strategies of Kazakhstan. Kazakhstan's national economic history divides sharply between 1991 and 1998, and the years since 1999. The first ... More


On Efficient Utilization of Egypt's Energy Resources: Oil and Natural Gas

Hanaa Kheir-El-Din

in The Egyptian Economy: Current Challenges and Future Prospects

Published in print:
2008
Published Online:
September 2011
ISBN:
9789774161544
eISBN:
9781617970306
Item type:
chapter
Publisher:
American University in Cairo Press
DOI:
10.5743/cairo/9789774161544.003.0008
Subject:
Political Science, Political Economy

This chapter examines the topic of energy policy in Egypt on several fronts. Section 1 examines the world energy market with reasonable estimates of future prices for oil and natural gas, such that ... More


Oil Security in an Increasingly Insecure World

James M. Griffin

in A Smart Energy Policy: An Economist's Rx for Balancing Cheap, Clean, and Secure Energy

Published in print:
2009
Published Online:
October 2013
ISBN:
9780300149852
eISBN:
9780300149869
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300149852.003.0004
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter outlines the concern for oil security as there has been a curious resurgence of petro-nationalism, with key consuming countries such as China attempting to forge bilateral trade ... More


Federalism and the Unruly California Oil Market

Paul Sabin

in Crude Politics: The California Oil Market, 1900-1940

Published in print:
2004
Published Online:
March 2012
ISBN:
9780520241985
eISBN:
9780520931145
Item type:
chapter
Publisher:
University of California Press
DOI:
10.1525/california/9780520241985.003.0007
Subject:
History, American History: 20th Century

At the start of the 1930s California oil producers and state government leaders explored national limits on imports as a way to solve the oil market problem but they were turned away by the Hoover ... More


Domestic Legal Remedies Against OPEC

Cedric Ryngaert

in Challenging Acts of International Organizations Before National Courts

Published in print:
2010
Published Online:
January 2011
ISBN:
9780199595297
eISBN:
9780191595752
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199595297.003.0010
Subject:
Law, Constitutional and Administrative Law, Public International Law

This chapter addresses the difficulties encountered when trying to apply national anti-trust/competition law to the activities of international organizations. It demonstrates the fundamentally ... More


The Macroeconomic Effects of Oil Price Shocks: Why Are the 2000s so Different from the 1970s?

Olivier J. Blanchard and Jordi Galí

in International Dimensions of Monetary Policy

Published in print:
2010
Published Online:
February 2013
ISBN:
9780226278865
eISBN:
9780226278872
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226278872.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter discusses the large output losses and the rises in inflation rates that accompanied the two oil shocks of 1970 in most industrialized countries, and shows the more recent absence of ... More


The Supply-Shock Explanation of the Great Stagflation Revisited

Alan S. Blinder and Jeremy B. Rudd

in The Great Inflation: The Rebirth of Modern Central Banking

Published in print:
2013
Published Online:
September 2013
ISBN:
9780226066950
eISBN:
9780226043555
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226043555.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

Previous studies have concluded that the two OPEC shocks, the two roughly contemporaneous food price shocks, and the removal of wage-price controls in 1973–1974 played key roles in the macroeconomic ... More


The Effects of Oil Price Changes on the Industry-Level Production and Prices in the United States and Japan

Fukunaga Ichiro, Naohisa Hirakata, and Nao Sudo

in Commodity Prices and Markets

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.003.0007
Subject:
Economics and Finance, South and East Asia

This chapter investigates the underlying causes of oil price changes and their transmission mechanisms in the United States and Japan. The oil price changes are decomposed into their component parts ... More


Welfare and Work in the Open Economy Volume II: Diverse Responses to Common Challenges in Twelve Countries

Fritz W. Scharpf and Vivien A. Schmidt (eds)

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199240920
eISBN:
9780191600180
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199240922.001.0001
Subject:
Political Science, Comparative Politics

This is the second of a two‐volume study of the adjustment of advanced welfare states to international economic pressures, in which leading scholars detail the wide variety of responses in 12 ... More


Welfare and Work in the Open Economy Volume I: From Vulnerability to Competitiveness in Comparative Perspective

Fritz W. Scharpf and Vivien A. Schmidt (eds)

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199240883
eISBN:
9780191600173
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199240884.001.0001
Subject:
Political Science, Comparative Politics

This is the first of a two‐volume study of the adjustment of advanced welfare states to international economic pressures, in which leading scholars detail the wide variety of responses in 12 ... More


France Directing Adjustment?

Jonah D. Levy

in Welfare and Work in the Open Economy Volume II: Diverse Responses to Common Challenges in Twelve Countries

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199240920
eISBN:
9780191600180
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199240922.003.0007
Subject:
Political Science, Comparative Politics

The Bismarckian welfare state in France is financed by social security contributions to an even greater degree than is true in Germany. During the oil‐price crises of the 1970s and early 1980s, job ... More


Pass-Through of Oil Prices to Japanese Domestic Prices

Etsuro Shioji and Taisuke Uchino

in Commodity Prices and Markets

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.003.0006
Subject:
Economics and Finance, South and East Asia

This chapter studies the effects of oil prices on domestic prices using Japanese data. This Japanese data was studied using time series analysis techniques and it confirmed the tendency of a ... More


OIl Oil and Macroeconomy: The Case of Korea

Junhee Lee and Joonhyuk Song

in Commodity Prices and Markets

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.003.0009
Subject:
Economics and Finance, South and East Asia

This chapter analyzes the nature of oil price hikes and their impacts on the Korean economy. The chapter examines in detail whether the recent oil price hike is similar to or different from previous ... More


Mexico: Trade and Financial Liberalization With Volatile Capital Inflows: Macroeconomic Consequences and Social Impacts During the 1990s

Jaime Ros and Nora Lustig

in External Liberalization, Economic Performance and Social Policy

Published in print:
2001
Published Online:
September 2007
ISBN:
9780195145465
eISBN:
9780199783960
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195145465.003.0007
Subject:
Economics and Finance, International

By the mid‐1980s, the Mexican economy was still suffering the consequences of the 1982 debt crisis, and these were compounded by the difficulties created by the collapse of oil prices in early 1986, ... More


Commodity Prices and Markets

Takatoshi Ito and Andrew K. Rose (eds)

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
book
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.001.0001
Subject:
Economics and Finance, South and East Asia

Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects, such as inflation and low rates of economic growth. This book ... More


Oil Shocks in a DSGE Model for the Korean Economy

Sungbae An and Kang Heedon

in Commodity Prices and Markets

Published in print:
2011
Published Online:
February 2013
ISBN:
9780226386898
eISBN:
9780226386904
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226386904.003.0010
Subject:
Economics and Finance, South and East Asia

This chapter describes the oil shocks using a dynamic stochastic general equilibrium (DSGE) model for the Korean economy. The Korean economy depends entirely on imports for its acquisition of crude ... More


Switzerland Adjustment Politics Within Institutional Constraints

Giuliano Bonoli and André Mach

in Welfare and Work in the Open Economy Volume II: Diverse Responses to Common Challenges in Twelve Countries

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199240920
eISBN:
9780191600180
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199240922.003.0004
Subject:
Political Science, Comparative Politics

Among ‘Continental’ welfare states, Switzerland had and has the highest per capita income and the highest employment ratio in the group of advanced welfare states included in this study. Its ... More


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