Why are the 2000s so different from the 1970s? A structural interpretation of changes in the macroeconomic effects of oil prices
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In the 1970s, large increases in the price of oil were associated with sharp decreases in output and large increases in inflation. In the 2000s, and at least until the end of 2007, even larger increases in the price of oil were associated with much milder movements in output and inflation. Using a
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美国国家经济研究局创建时间：
2009-10-01
