Energy price changes and the induced revaluation of durable capital in U.S. manufacturing during the OPEC decade
When energy prices increased suddenly and unexpectedly in 1973-74 and 1979-80, a portion of the long-lived capital stock in U.S. manufacturing was rendered economically less valuable. In this paper we develop an analytical framework, consistent with the theory of cost and production, that provides a...
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[Cambridge, Mass.] : Massachusetts Institute of Technology, Center for Energy Policy Research, 1984
2011
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| Online Access: | http://hdl.handle.net/1721.1/60595 |