Oil price shocks have had a big impact on the world economy in the past 25 years. A study used a complex world model to look at what would have happened if oil prices stayed the same. They found that some recessions in the past could have been less severe without oil price hikes. The drop in oil prices in 1985/86 actually stopped a small recession from happening. Different countries like the US, Germany, and Japan were affected differently by oil prices based on how much they rely on oil, trade with OPEC, and their job markets. Germany and the US had different inflation effects. The study also tested different monetary and fiscal policies to see how they affected the results.