Energy Price Shocks And Regional Output And Employment

Douglas R. Bohi and John R. Powers
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Douglas R. Bohi: Resources for the Future
John R. Powers: Indiana University

The Review of Regional Studies, 1993, vol. 23, issue 2, 129-142

Abstract: This paper assesses the importance of energy price shocks to short-term fluctuations in state output and employment. In one set of cross-state regressions, the positive effects of energy production are compared with the negative effects of energy used in industrial production during the 1978-80 period of rising energy prices and the 1985-87 period of falling energy prices. A separate regression compares the effect of energy prices and macroeconomic stabilization policy on economic performance in energy-producing and nonproducing states. Overall, monetary policy appears to be more important than energy prices in explaining relative state economic performance.

Date: 1993
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Persistent link: https://EconPapers.repec.org/RePEc:rre:publsh:v23:y:1993:i:2:p:129-142

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