Sectoral Effects of a World Oil Price Shock: Economywide Linkages to the Agricultural Sector

Kenneth Hanson, Sherman Robinson and Gerald Schluter

No 278608, Staff Reports from United States Department of Agriculture, Economic Research Service

Abstract: The effects of a world oil price shock on U.S. agriculture are analyzed in an economywide environment. We use an input-output model to analyze the direct and indirect cost linkages between energy and other sectors of the economy. Then, to allow sectoral output adjustment and the effects on the U.S. current account, we use the U.S. Department of Agriculture/Economic Research Service Computable General Equilibrium (CGE) model to analyze the sectoral effects under three different macro adjustment scenarios. Theeffects on agriculture are not limited to the direct and indirect energy costs. Exchange rate or foreign borrowing adjustments to higher oil import costs and government support programs for agriculture also matter.

Keywords: Demand and Price Analysis; Resource/Energy Economics and Policy (search for similar items in EconPapers)
Pages: 33
Date: 1991-10
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: SECTORAL EFFECTS OF A WORLD OIL PRICE SHOCK: ECONOMYWIDE LINKAGES TO THE AGRICULTURAL SECTOR (1993)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uerssr:278608

DOI: 10.22004/ag.econ.278608

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