First published in 1982. The sharp increase in the price of imported oil in the early 1970s generated much interest in the economic impact of large oil price hikes and related energy price increases. The main focus is on oil, and Dr. Feldman’s monograph is a needed contribution, revealing the quantitative price impacts of recent oil price shocks in great detail.
1 INTRODUCTION, 2 ANALYTICAL FRAMEWORK: FIXED-COEFFICIENT INPUT-OUTPUT TECHNOLOGY. 3 ESTIMATED DOMESTIC PRICE EFFECTS: FIXEDCOEFFICIENT MODEL., 4 ANALYTICAL FRAMEWORK, 5 ESTIMATED DOMESTIC PRICE EFFECTS: MODEL INCORPORATING INTERFUEL SUBSTITUTION 6 CONCLUSION