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Diane Publishing Books
Oil Recession: A Tale of Five Regions
Barton A. Smith (au); Albert J. Ballinger (au)
This report analyzes the experience in the 1980s of energy driven economics. Regional economic analyses have for some time needed the incorporation of more short run supply-side factors that can influence employment & output growth. The energy recession of the 1980s provides an excellent opportunity to examine the stock-adjustment process at work & test its primary conclusions. This report analyzes the energy cities/regions of Tulsa, Midland & Odessa, New Orleans, Denver, & Alaska. The impact of exogenous changes in the international oil market is felt through fiscal impacts (in particular Alaska & Louisiana); through the derived demand for oil reserves (Houston/ Midland/Odessa, & Tulsa); & through the stimulated search for substitutes. Tables.
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