| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16067 |
| 来源ID | Working Paper 16067 |
| Oil, Automobiles, and the U.S. Economy: How Much have Things Really Changed? | |
| Valerie A. Ramey; Daniel J. Vine | |
| 发表日期 | 2010-06-10 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper studies the impact of oil shocks on the U.S. economy--and on the motor vehicle industry in particular--and re-examines whether the relationship has changed over time. We find remarkable stability in the response of aggregate real variables to oil shocks once we account for the extra costs imposed on the economy in the 1970s by price controls and a complex system of entitlements that led to some rationing and shortages. To investigate further why the response of real variables to oil shocks has not declined over time, we focus on the motor vehicle industry, which is considered the most important channel through which oil shocks affect the economy. We find that, contrary to common perceptions, the share of motor vehicles in total U.S. goods production has shown little decline over time. Moreover, within the motor vehicle industry, the effects of oil shocks on the mix of vehicle sold and on capacity utilization appear to have been proportional in recent decades to the effects observed in the 1970s. |
| 主题 | Macroeconomics ; Consumption and Investment ; Environmental and Resource Economics ; Energy |
| URL | https://www.nber.org/papers/w16067 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573742 |
| 推荐引用方式 GB/T 7714 | Valerie A. Ramey,Daniel J. Vine. Oil, Automobiles, and the U.S. Economy: How Much have Things Really Changed?. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16067.pdf（720KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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