North Sea Oil and Manufacturing Output — Comment

Eduard J. Bomhoff

A chapter in Monetarism in the United Kingdom, 1984, pp 200-204 from Palgrave Macmillan

Abstract: Abstract John Kay claims that a significant part of the recent decline in British manufacturing output was the inevitable result of North Sea oil. In his view, the discovery of North Sea oil was bad news for British industry. He bases his argument on simple manipulation of input-output tables, but before we are carried away by the stark numbers in his Tables 33–35, we should pause for a moment to realise that this is a very strange message indeed.

Keywords: Housing Market; Real Exchange Rate; Australian Economy; Political Uncertainty; Symphony Orchestra (search for similar items in EconPapers)
Date: 1984
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DOI: 10.1007/978-1-349-06284-3_13

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