Aug 22, 12 •
219 Views •
Demand, Supply, and Markets, Developing Economies, Economic History, Environment, Financial Markets, Households, International Trade and Finance, Macroeconomic Measurement, Thinking Economically, Uncategorized •
Elaine Schwartz •
Sometimes 25 cents at the gas pump can make a huge difference. Economist James Hamilton explains why with his “rough rule-of thumb” correlation between the price of crude and gas at the pump. When crude increases by $10 a barrel, then the price of
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