Energy Price Shocks and Macroeconomic Performance

by Douglas R. Bohi

Overview

The oil price shocks of the 1970’s led to severe recessions in the 1980’s in the United States. Originally published in 1989 in the aftermath, Bohi attempts to show both how energy prices can cause a decline in output and employment and to explore important other factors which led to the recessions using the US, United Kingdom, Japan and Germany as examples. The findings in Energy Price Shocks and Macroeconomic Performance have major implications for energy policy and questions government plans which focus solely on preventing another oil supply disruption. This title will be of interest to students of environmental studies and economics as well as professionals.

Product Details

ISBN-13:	9781138947191
Publisher:	Taylor & Francis
Publication date:	08/11/2017
Series:	Routledge Revivals
Pages:	108
Product dimensions:	5.44(w) x 8.50(h) x (d)

Table of Contents

Preface; 1. Introduction 2. Overview of the Economic Record 3. Linkages between Energy and the Economy 4. Factor Substitution and Productivity 5. Wage Rigidity and the Level of Employment 6. Acceleration of Capital Obsolescence 7. Demand-Side Effects 8. Conclusions; References and Bibliography

Editorial Reviews

Examines several arguments that relate declines in output and employment to higher energy prices, and concludes that energy price shocks are not as damaging to the economy as is usually thought. No index. Annotation c. Book News, Inc., Portland, OR (booknews.com)

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