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Grain markets will tell a similar story of high stocks and tumbling prices.
With plenty of gas and tumbling prices, the time scale could well be compressed.
Tumbling prices attract poorer and less-skilled workers from other places, Messrs Glaeser and Gyourko reckon.
Commodity price inflation helps the export earnings in emerging markets and is more conducive to global recovery than tumbling prices.
This is partly because of tumbling prices for agricultural commodities, the reason for previous downward blips in 2006 and 2008.
More recently tumbling prices for natural resources, especially oil, have boosted the spending power of consumers from Detroit to Delhi.
Similar(35)
The tumbling price of oil has hurt Iran more than it has most oil producers.
THE impact of the tumbling price of oil and what to expect from Britain's Autumn statement.
The Russian economy is in bad shape (experts disagree how much) thanks to sanctions and the tumbling price of oil.
The agreement, effectively a reverse takeover of Aveva, would have left it less vulnerable to the tumbling price of oil.
Petrol prices could fall to less than 90p a litre due to the tumbling price of oil across the world and the continuing supermarket price war.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com