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Greasing the wheel: Oil’s role in the global crisis / Lucas Chancel  &#38; Thomas Spencer, VoxEu.org, 16/05/2012http://www.voxeu.org/index.php?q=node/7998Between January 2002 and August 2008, the nominal oil price rose from $19.7 to $133.4 a barrel. This column gathers evidence on the role of this rise in prices in the global crisis. It suggests that oil prices had a direct impact on household expenditure on gasoline and increased mortgage delinquency rates. It adds that it also had many indirect impacts, notably though interest rate increases due to monetary policy...