Energy Prices and the U.S. Economy, 1972-1976

IF 0.6 4区社会学 Q4 ENVIRONMENTAL STUDIES

Natural Resources Journal Pub Date : 1978-10-01 DOI:10.7551/mitpress/3382.003.0015

D. Jorgenson, E. Hudson

引用次数: 31

Abstract

Higher energy prices following the 1973 oil embargo are shown to have seriously impacted the U. S. economy to the extent of slowing energy consumption growth by 8.8 percent. Analysis of the 1972--1976 period reveals a 3.2 percent drop in gross national product and a general slowdown in the economy, causing declines in capital stocks and employment and a rise in inflation. A dynamic general-equilibrium economic model is used to study production activities in 10 sectors. The increase in energy prices is shown to have altered both the relative prices of goods according to their energy intensity and the relative demand for goods. Structural adjustments were made in investment levels and the expansion of employment into labor-intensive areas. 12 tables, 7 footnotes.

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能源价格与美国经济，1972-1976

1973年石油禁运后的能源价格上涨严重影响了美国经济，能源消费增长放缓了8.8%。对1972年至1976年期间的分析表明，国民生产总值下降了3.2%，经济普遍放缓，导致资本存量和就业减少，通货膨胀率上升。采用动态一般均衡经济模型研究了10个部门的生产活动。研究表明，能源价格的上涨既改变了商品的相对价格，也改变了商品的相对需求。投资结构调整，就业向劳动密集型领域扩展。12个表格，7个脚注。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Natural Resources Journal Multiple-

CiteScore

1.20

自引率

0.00%

发文量

期刊介绍： The Natural Resources Journal (NRJ) is published by the University of New Mexico School of Law and is an international, interdisciplinary forum devoted to the study of natural and environmental resources. The Journal is policy oriented, and seeks to overcome the isolation of scholars in various disciplines who are concerned with natural and environmental resources. Interdisciplinary collaboration in solving resource-related problems was a formative principle in the creation of the Journal and, for 50 years, the Journal has been guided by that principle. The NRJ''s contributors come from various disciplines, represent many countries, and provide many approaches to the complex issues raised by the need to balance resource development and environmental concerns. Natural Resources Journal is a member of the National Conference of Law Reviews, Inc.