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Journal Article
Are we running out of oil?
Journal Article
Putting a price on carbon
To address global warming, most economists favor a focus on prices, not quantities.
Journal Article
Blow-out?
Journal Article
Do energy prices threaten the recovery?
Journal Article
A perspective on the economics of natural gas decontrol
Working Paper
Variance properties of Solow's productivity residual and their cyclical implications
For the United States economy (1960-1989), the correlation between the growth rates of the Solow residual and the real price of energy (government spending) is -0.55 (0.09). The Solow residual confounds movements in energy prices and government spending with those in true technology. Why? To address this question, this study develops a model to see if it quantitatively captures the endogenous transmission mechanism underlying the observed Solow residual correlations. It does. The transmission mechanism depends on endogenous capital utilization. With this transmission mechanism in place, and ...
Journal Article
Green at any price?
Renewable-energy mandates raise lots of questions for electric utilities and consumers