Macroeconomics impacts of energy shocks /
Large-scale macroeconomic models have been used extensively to analyze a wide range of important economic issues. They were originally developed to study the economy's response to monetary and fiscal policies. During the 1970s these models were expanded and revised to track the inflationary pro...
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| Other Authors: | , , |
| Format: | eBook |
| Language: | English |
| Published: |
Amsterdam :
North-Holland,
1987.
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| Series: | Contributions to economic analysis ;
163. |
| Subjects: | |
| Online Access: | Connect to the full text of this electronic book |
Table of Contents:
- Front Cover; Macroeconomics Impacts of Energy Shocks; Copyright Page; Introduction to the series; Editors' Preface; Table of Contents; Senior Advisory Panel; Working Group Participants; Chapter 1. Macroeconomic Impacts of Energy Shocks: A Summary of the Key Results; 1 Overview; 2 Study Design; 3 Impacts of an Oil Shock; 4 Alternative Energy Shocks; 5 Macroeconomic Policies for Reducing the Impacts of an Energy Shock; 6 Energy Policy Issues; 7 Model Structures; 8 Conclusion; Appendix 1A: Energy Shock and Policy Scenarios; Appendix 1B: Special Calculations
- Chapter 2. Macroeconomic Impacts of Energy Shocks and Policy Responses: A Structural Comparison of Fourteen Models1 Introduction; 2 The IS-LM Model of Aggregate Demand; 3 A Model of Aggregate Demand and Supply; 4 Theoretical Analysis of Macroeconomic Responses to Energy Shocks; 5 Identifying the Structural Attributes of the Models; 6 A Comparative Analysis of EMF 7 Model Responses to an Energy Shock in the Short Run; 7 Long Run and Dynamic Responses to Energy Shocks in the EMF 7 Models; 8 Summary and Conclusions; References; Appendix 2A: Features of Participating Models
- Appendix 2B: Specifications of Scenarios: Change Prom Control SolutionAppendix 2C: Value-Added versus Final Goods Prices; Appendix 2D: Response of Potential GNP to an Energy Shock; Appendix 2E: Percentage Change in Price Level per One Percent Increase in Oil Price, Second Year: Reported and Estimated From Model Characteristics; Chapter 3. Macroeconomic Models and Energy Policy Issues; 1 Introduction; 2 Measurement of Economic Impacts; 3 The National Income Accounting Framework; 4 External and Internal Energy Shocks; 5 The Strategic Petroleum Reserve; 6 Alternative Energy Policies; 7 Summary