Following King and Plosser's (1984) suggestion, we use the growth of four real natural resource prices to proxy post-war supply shocks and assess their importance in a VAR which controls for aggregate demand influences on real output. We find that these supply shock proxies are able to account...

We investigate the impact of raising the excise tax on motor fuels on the U.S. economy in general and the agricultural sectors in particular. The approach used in the analysis consists of a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household...

We examine the impact of an oil-import fee on the United States economy. For a general equilibrium model, we estimate the effect that a $5.00 per barrel import fee would have on producing sectors, consuming sectors, households, and the government. Over the period 1984–1990 with such an import...

This paper uses an aggregate modelling approach to assess the impact of taxes on refined petroleum products on the Philippine economy. The effects of removing the 48% tax on premium and regular gasoline and the 24% tax on other refined petroleum products on prices and quantities are examined....