Higher Oil Prices and the Western European Economies : An Appaisal of Adjustment Policies
(1975) , 75 pages
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- Abstract
- (en) This study is divided into three parts. In order to analyze the major problems faced by Western Europe (WE) after the oil crisis, I first trace, in Part I, the effects that higher oil prices would have had on major macroeconomic variables, if economic policy had been neutral, i.e., supposing that no offsetting nor reinforcing Policy reactions had been superimposed on the adjustment path of the economic system. On the basis of the results thus obtained, I shall analyze, in Part II, how policy authorities have reacted up to now to the crisis and what broad lines should be followed in the future in order to control the economy along a reasonable adjustment path. The problems, in Part III, will be long run ones, namely the identification of the economic consequences of the oil crisis for WE, after the initial imbalance has been reabsorbed, and the long-run policies that these consequences require.
- Affiliations
Citations
Basevi, G. (1975). Higher Oil Prices and the Western European Economies : An Appaisal of Adjustment Policies (Working Papers Institut des sciences économiques 7507). https://hdl.handle.net/2078.5/275862