This report brings the results of simulations of some oil supply disruptions on the M.I.T. Energy Laboratory Energy Macro Model. This model has previously been used to study the macroeconomic effects of the 1973-74 and 1979 oil price shocks, as well as for policy simula- -tions related to these...

During the last decade, the Latin American and Caribbean region has experienced unprecedented natural resources abundance. This book highlights how transparency can help realize the benefits and reduce negative externalities associated with the extractive industries in the region. A central...

During the last decade, the Latin American and Caribbean region has experienced unprecedented natural resources abundance. This book highlights how transparency can help realize the benefits and reduce negative externalities associated with the extractive industries in the region. A central...

We quantify the contribution of various driving forces to state-level movements in unemployment rates and employment growth from 1956 to 1992. Our story of regional fluctuations in the U.S. economy has a large cast of players -- including government contract awards and the basing of military...

The plunge in world oil prices has brought further difficulties to U.S. oil production, which has been declining in recent years. At the current low prices, most domestic oil wells are not profitable. This calls into question the long-run viability of oil production in the United States. Whether...

In this paper, we survey the theory and evidence linking fluctuations in energy prices to aggregate economic activity. We then briefly examine the implications of this research for both monetary policy and energy policy in response to oil price shocks. Research seems to provide relatively...