Search

Begin New Search
Proceed to Checkout

Search Results for All:
(Showing results 1 to 2 of 2)



The Adjustment of U.S. Oil Demand to the Price Increases of the 1970s

Dermot Gately and Peter Rappoport

Year: 1988
Volume: Volume 9
Number: Number 2
DOI: 10.5547/ISSN0195-6574-EJ-Vol9-No2-7
View Abstract

Abstract:
Since the 1979-80 oil price doubling, U.S. oil consumption has declined by about 20 percent, in part because of price-induced conservation. This has caused self-congratulatory euphoria, especially in the first few months of 1986, when both the oil price and OPEC were collapsing. We argue here that the euphoria could well be short-lived. U.S. oil consumption will resume its growth and, within five to ten years, could be higher than ever. Combining these results with the consensus projection of declining domestic production, the outlook for rapidly growing dependence on imported oil is disturbing. Plus ca change, plus c'est la meme chose.



Macroeconomic Responses to Oil Price Increases and Decreases in Seven OECD Countries

Knut Anton Mork, Oystein Olsen, and Hans Terje Mysen

Year: 1994
Volume: Volume15
Number: Number 4
DOI: 10.5547/ISSN0195-6574-EJ-Vol15-No4-2
View Abstract

Abstract:
The correlations between oil-price movements and GDP fluctuations are investigated for the United States, Canada, Japan, Germany (West), France, the United Kingdom, and Norway. The responses to price increases and decreases are allowed to be asymmetric. Bivariate correlations as well as partial correlations within a reduced-form macroeconomic model are considered. The correlations with oil-price increases are negative and significant for most countries, but positive for Norway, whose oil-producing sector is large relative to the economy as a whole. The correlations with oil-price decreases are mostly positive, but significant only for the United States and Canada. Most countries show evidence of asymmetric effects, with Norway again as an exception.





Begin New Search
Proceed to Checkout

 

© 2025 International Association for Energy Economics | Privacy Policy | Return Policy