Levi: What The Nobel Prize Tells Us About Oil

Michael Giberson Michael Levi, at his CFR blog, explains “What The Nobel Prize Tells Us About Oil“: Do you think that it’s straightforward to figure out whether high oil prices cause recessions? Many people apparently do. The 2011 Nobel Prize in Economics, awarded today to Thomas Sargent and Christopher Sims for “empirical research on cause and effect in the macroeconomy”, should make … More Levi: What The Nobel Prize Tells Us About Oil