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The Energy Crisis and Macroeconomic Policy

Abstract:
It is hard to find an issue more confusing than energy policy. Is there a shortage of oil? Why? How long will the shortages last? Who's to blame? What will be the supply and demand response to price decontrol? What are the appropriate policy responses today? Can the president or the secretary of energy or the Congress be trusted to find the answers? And so on.

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Energy Specializations: Petroleum – Policy and Regulation; Energy and the Economy – Energy as a Productive Input; Energy and the Economy –Economic Growth and Energy Demand; Energy and the Economy – Resource Endowments and Economic Performance; Energy and the Economy – Energy Shocks and Business Cycles

JEL Codes:
E60 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook: General
O13 - Economic Development: Agriculture; Natural Resources; Energy; Environment; Other Primary Products
Q34 - Natural Resources and Domestic and International Conflicts
F44 - International Business Cycles

Keywords: energy policy, macroeconomics, energy price shocks

DOI: 10.5547/ISSN0195-6574-EJ-Vol1-No1-2


Published in Volume 1, Number 1 of The Quarterly Journal of the IAEE's Energy Economics Education Foundation.