Via macroblog comes word of an addition to the economics wing of the blogosphere.
James D. Hamilton of UCSD has a blog called Econbrowser. Check it out! Among other things, Hamilton is an expert on oil prices, so it will be very interesting to keep up with his analysis. For starters, he says,
All but one of the U.S. recessions since World War II have been preceded by a dramatic increase in crude petroleum prices. Recent turbulence in energy markets has some analysts speculating that, in the immortal words of Yogi Berra, it could be deja vu all over again. But this oil price shock differs significantly from earlier episodes, leading me to believe that the economy will be able to adapt to the new pricing environment without a major economic slowdown.
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