We learned a lot from that experience. The short-run impact – as always occurs when oil prices rise quickly – was to reduce growth by reducing consumption of other goods, because oil consumption does not adjust as quickly as that of other goods and services.
20世纪70年代石油价格冲击距今已有40年。我们从中学到了大量教训。短期影响——总是发生在油价快速上升时期——是抑制其他商品的消费从而拉低增长，因为石油消费的调整不像其他商品和服务那么快。