Not exact matches
And recessions are often presaged by certain signals: rising jobless claims; falling home sales; an inverted yield curve; wage pressures that impact corporate margins; exogenous
shocks, including
oil spikes; or destabilizing valuations in key asset classes.
Probably the most famous example of a large, negative terms of trade
shock is the United States after the
oil price
spike in 1973:
After
spiking at $ 105 per barrel in 2014, crude
oil prices have been in
shocking...
1 time EVENT driven
shocks lead to a sudden
spike in the price of
oil.
And Mr. Obama's broader call for an energy revolution also could require him to overcome what he called America's «
shock and trance» cycle as
oil prices
spike and collapse.
Key post-World-War-II
oil shocks reviewed include the Suez Crisis of 1956 - 57, the OPEC
oil embargo of 1973 - 1974, the Iranian revolution of 1978 - 1979, the Iran - Iraq War initiated in 1980, the first Persian Gulf War in 1990 - 91, and the
oil price
spike of 2007 - 2008.