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A theory is appropriate as long as it fits into the fact; when a theory doesn't fit in the fact, it's wise to walk with the fact.

Monday, March 7, 2011

Oil Price Shocks and Global Recovery

In an interview, Nobel Prize-winning economist Michael Spence explains the relationship between oil price shock and global economic recovery, especially in the context of USA. You will like to read this. 

Here is the link. 

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