Energy markets and the Midwest economy
AbstractThis article examines the effects of fuel prices on the Midwest economy. As a region that is still disproportionately reliant on manufacturing, the Midwest would be expected to feel the brunt of high energy costs. However, is this still the case, or has the impact been mitigated over time by the restructuring of the region’s economy? The author finds that the Midwest has followed the national pattern of decreasing reliance on energy to produce regional output, but still has a relatively high concentration of energy-intensive industries that, when combined with unfavorable weather conditions, suggests that the region is still sensitive to energy price spikes.
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Bibliographic InfoArticle provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.
Volume (Year): (2005)
Issue (Month): Q IV ()
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