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Please explain in your own words. Thank you 3. Why does an oil price shock cause the business cycles of different countries to be synchronized?

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Please explain in your own words. Thank you

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3. Why does an oil price shock cause the business cycles of different countries to be synchronized? Why did the business cycles of major industrial countries become unsynchronized during the 1990s? What mechanisms lead to the international transmission of economic shocks? Explain the basic means by which the transmission occurs. Permalink | Reply

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