 |
 |
Notas del mismo autor: |
|
|
|
|
|
| |
08/12/2016 | Economia y Finanzas
LNG - The Importance of US LNG Exports to Europe
President-elect Trump has made it clear, on multiple occasions, that the United States will not carry the burden of defending Europe. Together with the possibility of the U.S. reevaluating its security commitments to Europe, the recent demonstration of Russian military might, which saw the Russian fleet sail through the English Channel, has been the peak of increasingly strained EU-Russia relations. Russia’s foreign policy is becoming more and more unpredictable and the future of East-West relations seems to resemble a Cold War.
................................................................................................................................ |
01/10/2010 | Economia y Finanzas
Oil, Automobiles, and the U.S. Economy: How Much have Things Really Changed?
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.
................................................................................................................................ |
|
|
|
|
