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Sectoral Effects Of A World Oil Price Shock: Economywide Linkages To The Agricultural Sector

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  • Hanson, Kenneth
  • Robinson, Sherman
  • Schluter, Gerald E.

Abstract

The effects of a world oil price shock on U.S. agriculture are analyzed in an economywide environment. We use an input-output model to analyze the direct and indirect cost linkages between energy and other sectors of the economy. Then, to allow sectoral output adjustment and the effects on the U.S. current account, we use the U.S. Department of Agricultural/Economic Research Service Computable General Equilibrium (CGE) model to analyze the sectoral effects under three different macro adjustment scenarios. The effects on agriculture are not limited to the direct and indirect energy costs and government support programs for agricultural also matter.

Suggested Citation

  • Hanson, Kenneth & Robinson, Sherman & Schluter, Gerald E., 1993. "Sectoral Effects Of A World Oil Price Shock: Economywide Linkages To The Agricultural Sector," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 18(1), pages 1-21, July.
    • Handle: RePEc:ags:jlaare:30818
    DOI: 10.22004/ag.econ.30818
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    1. Robinson, Sherman, 1990. "Analyzing Agricultural Trade Liberalization with Single-Country Computable General Equilibrium Models," CUDARE Working Papers 198502, University of California, Berkeley, Department of Agricultural and Resource Economics.
    2. Robinson, Sherman & Kilkenny, Maureen & Hanson, Kenneth, 1990. "The USDA/ERS Computable General Equilibrium (CGE) Model of the United States," Staff Reports 278341, United States Department of Agriculture, Economic Research Service.
    3. Dvoskin, Dan & Heady, Earl O., 1977. "Commodity Prices And Resource Use Under Various Energy Alternatives In Agriculture," Western Journal of Agricultural Economics, Western Agricultural Economics Association, vol. 2, pages 1-10, December.
    4. Kilkenny, Maureen, 1991. "Computable General Equilibrium Modeling of Agricultural Policies: Documentation of the 30-Sector FPGE GAMS Model of the United States," Staff Reports 278539, United States Department of Agriculture, Economic Research Service.
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