examines the main channels through which reductions in U.S. oil consumption might take place: (a) increased fuel economy of … engine, and (d) reduced vehicles miles travelled. I then discuss how the policies for reducing petroleum consumption used in … consumption would have the largest impact on economic efficiency …

-Pissarides labor markets); (3) goods markets for nontradables require active search from households wherein increases in consumption …

to stabilize government debt. The fiscal adjustment needed is very large, in the range of 30-40% of total consumption … expenditures. Using a distorting tax such as the consumption tax or the labor income tax requires either tax to rise to …

percent of consumption in 1928-1940, but a +16 percent welfare gain after 1941. A representative consumer born at the start of … Stalin's policies in 1928 experiences a reduction in welfare of -1 percent of consumption, a number that does not take into …