The Economic Impact of Higher Oil Prices
1 August 1990
By Dr. Marion Stewart
There is little doubt that oil price increases in the past have had serious negative impacts on the economies of the United State, Japan, and Western Europe. Sharp crude oil price increases preceded five of the six economic recessions experienced by the United States since World War II. In this working paper, NERA Special Consultant Dr. Marion Stewart discusses the economic impact of higher oil prices on the world economy.
