Economic Letter
Brief summaries of SF Fed economic research that explain in reader-friendly terms what our work means for the people we serve.
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Effects of Oil Supply Disruptions on Oil Exporters, Importers
Wataru Miyamoto, Thuy Lan Nguyen, Dmitriy Sergeyev
Economies may face different challenges during oil supply disruptions depending on whether they primarily import or export oil. Comparing the effects of past disruptions in Canada, a large net oil exporter, and the euro area, a large oil importer, suggests that both experienced rising inflation and declining economic activity. This reflects that the energy sector…
