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Economic considerations regarding the first oil shock, 1973 - 1974

By Livia Ilie


The oil shock of 1973-1974 was an economic and politic important event that produced controversies in the years that followed. No event in the last decades of the 20th century was as visible as the fourfold increase of the oil price in 1973-1974. Due to different opinions and the topic itself there are many theories and point of views related to the oil crisis. This paper aims to analyze the first oil shock and to brig to attention the existent theories on the topic.

Topics: L13 - Oligopoly and Other Imperfect Markets, Q40 - General
Year: 2006
OAI identifier: oai:mpra.ub.uni-muenchen.de:6431

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