Macroeconomic impacts of energy shocks

Book · Thu Jan 01 04:00:00 EST 1987

OSTI ID:5617640

Hickman, B G; Huntington, H G; Sweeney, J L

This study compares the responses of 14 macroeconomic models to supply-side shocks in the form of sudden energy price increases or decreases and to policies for lessening the impacts of price jumps. Four energy price shocks were examined: oil price increases of 50 and 20 percent, an oil price reduction of 20 percent, and an 80 percent increase in domestic natural gas prices. Five policy responses were considered for offsetting the GNP impacts of the larger oil price increase: monetary accommodation, an income tax rate reduction, an increase in the investment tax credit for equipment, a reduction in the employer's payroll tax rate, and an oil stockpile release.

• OSTI ID: 5617640
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002* -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
ABSTRACTS
ACCOUNTING
DOCUMENT TYPES
ECONOMIC IMPACT
ECONOMICS
ENERGY ACCOUNTING
ENERGY ANALYSIS
ENERGY EXPENSES
ENERGY POLICY
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
GOVERNMENT POLICIES
GROSS NATIONAL PRODUCT
LEADING ABSTRACT
MATHEMATICAL MODELS
NATURAL GAS
PETROLEUM
PRICES
TAX CREDITS
TAXES