Show simple item record

dc.contributor.advisorHussen, Ahmed
dc.contributor.authorHeitchue, John
dc.date.accessioned2013-01-26T17:21:32Z
dc.date.available2013-01-26T17:21:32Z
dc.date.issued2012
dc.identifier.urihttp://hdl.handle.net/10920/28200
dc.descriptionv, 31 p.en_US
dc.description.abstractThe relationship between oil price fluctuations and American macroeconomic performance has been studied extraneously since the creation of OPEC in 1960. This paper first provides an extensive background on the history of the oil industry. Secondly, the paper will review literature written not only on changes in oil prices as they pertain to output, inflation, and unemployment, but will also identify the main causes of this relationship, as well as look to differentiate between characteristics of oil price shocks of the 20th and 21st centuries. Findings of this research are that changes in oil prices directly affect macroeconomic behavior, the relationship is multi-dimensional, recessions are commonly associated with oil shock although they are not a primary catalyst, and finally that shocks of the 21st century do not seem to have as big of an impact as those of the 20th century because they have come to be expected.en_US
dc.format.mimetypeapplication/pdf
dc.language.isoen_USen_US
dc.relation.ispartofKalamazoo College Economics and Business Senior Individualized Projects Collection
dc.rightsU.S. copyright laws protect this material. Commercial use or distribution of this material is not permitted without prior written permission of the copyright holder.
dc.titleGlobal Oil Shocks: A Brief History and Their Effect on Output, Inflation, and Unemplyment in Americaen_US
dc.typeThesisen_US
KCollege.Access.ContactIf you are not a current Kalamazoo College student, faculty, or staff member, email dspace@kzoo.edu to request access to this thesis.


Files in this item

Thumbnail

This item appears in the following Collection(s)

  • Economics and Business Senior Individualized Projects [1145]
    This collection includes Senior Individualized Projects (SIP's) completed in the Economics and Business Department. Abstracts are generally available to the public, but PDF files are available only to current Kalamazoo College students, faculty, and staff.

Show simple item record