[Continued from Part I.] Sometimes people think of an increase in oil prices as a negative supply shock. What about that? Chart 9 So, in dollar terms, oil prices aren’t that much higher than in the 2010-2014 period (and I checked this today, and this price is down to $105). Further, if you adjust for inflation, you get this:
Part II: High Inflation: Where Did It Come From?
Part II: High Inflation: Where Did It Come…
Part II: High Inflation: Where Did It Come From?
[Continued from Part I.] Sometimes people think of an increase in oil prices as a negative supply shock. What about that? Chart 9 So, in dollar terms, oil prices aren’t that much higher than in the 2010-2014 period (and I checked this today, and this price is down to $105). Further, if you adjust for inflation, you get this: