1
   

Modeling the effects of the 1973 OPEC oil embargo

Forums: Oil, Economics, Modeling, Opec, Price Elasticity
Email this Topic • Print this Page
 
 
pete9694
 
Reply Sun 3 Dec, 2017 04:47 pm
Hello,

I am writing a paper on the effects of the 1973 OPEC Oil Embargo on the US Economy. I was wondering what would be some good models/statistical tools that can be used to explain the effects of the price of oil on the US economy. The paper revolves around the price elasticity (or lack thereof) of oil. Any suggestions would be great.

Thanks
  • Topic Stats
  • Top Replies
  • Link to this Topic
Type: Question • Score: 1 • Views: 2,268 • Replies: 1
No top replies

 
AngleWyrm-paused
 
  1  
Reply Tue 5 Dec, 2017 07:18 pm
The rate of inflation between price charged and value we expected it was worth at the time gives some information on elasticity. The history shows how inflation adjustment climbs going backward in time from the point at which dollars were assigned the value of 1 (present).

https://s6.postimg.org/zbxlgdkqp/variable_inflation.png
0 Replies
 
 

Related Topics

The Next Oil Revolution - Discussion by gungasnake
Oil historian Daniel Yergin: Plenty of oil, risk in energy outlook - Discussion by BumbleBeeBoogie
Winning the oil endgame - Discussion by DrewDad
Alaska Oil Drilling Won't Lower Price of Gas - Discussion by squinney
Russia's oil boom may be running on empty - Discussion by BumbleBeeBoogie
Marshall Merritt oil painting on morter board - Question by Conniseur
1800s European Oil Painting with Faded Signature - Question by PabloR
Can anyone identify this beautiful work of art? - Discussion by lealer
Methods to prevent oil theft from well site - Question by Ramesh Srivastava
"HILLTOP" Landscape Oil on board 9 x 12 maybe from 1980s + - Question by jantique
 
  1. Forums
  2. » Modeling the effects of the 1973 OPEC oil embargo
Copyright © 2024 MadLab, LLC :: Terms of Service :: Privacy Policy :: Page generated in 3.02 seconds on 11/22/2024 at 05:36:20
▲ ▼