Crude oil prices have dramatically increased over the past years and are now at a historical maximum in nominal terms and very close to it in real terms. It is difficult to argue, at least for net oil importers, that higher oil prices have a positive impact on welfare. In fact, the negative relationship between oil prices and economic activity has been well documented in the literature. Yet, to the extent that higher oil prices lead to lower oil consumption...
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INFORMATION
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2008/06/01
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Document de travail de recherche sur les politiques
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WPS4640
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1
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1
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2010/07/01
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Disclosed
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Oil intensities and oil prices : evidence for Latin America
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oil price
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