The Comparative Assessment of Differences of Oil Prices Increasing in Recent Years with Oil Price Shocks in 1970s Print

In this paper we study the macroeconomic performance of a set of industrialized economies in the after math of the oil price shocks of the 1970s and of the last decade.We imagine oil prices over the past 5 years dont appear to have led to a slow-down these economies, more over the impacts of high oil prices is shown to be so much smaller today than in 1973 and 1979. In order to evaluate these hypotheses, an econometric model is based on OLS approach in thisover the observed period. Finally we concluded that a number factor has played an important role: monetary policy, decreasing role of oil in production and consumption, changes in labour market, geopolitics problems.