Aggregate impacts of recent U.S. natural gas trends
Predictions about the macroeconomic impacts of recent U.S. natural gas trends vary widely. I re-evaluate the possible effects on U.S. economic activity using a standard general equilibrium model. Within this framework I show that increases in natural gas supply result in small-to-moderate economic gains, even with unemployment or under-utilized capital. Subsequent rises in economy-wide productivity are the key to magnifying the economic impacts of greater natural gas supply and resources. The 1995-2000 period, where U.S. productivity growth was driven by information technology, is a good starting point for comparing how American productivity may evolve because of natural gas.
|Date of creation:||11 Jan 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Luca Guerrieri & Christopher Erceg & Martin Bodenstein, 2008.
"Oil Shocks and External Adjustment,"
2008 Meeting Papers
945, Society for Economic Dynamics.
- repec:acb:camaaa:2011-17 is not listed on IDEAS
- Vipin Arora and Jozef Lieskovsky, 2014.
"Natural Gas and U.S. Economic Activity,"
The Energy Journal,
International Association for Energy Economics, vol. 0(Number 3).
- Vipin Arora & Pedro Gomis-Porqueras, 2011.
"A Repayment Model of House Prices Oil Price Dynamics in a Real Business Cycle Model,"
Monash Economics Working Papers
11-11, Monash University, Department of Economics.
- Kinnaman, Thomas C., 2011. "The economic impact of shale gas extraction: A review of existing studies," Ecological Economics, Elsevier, vol. 70(7), pages 1243-1249, May.
- Kevin L. Kliesen, 2006. "Rising natural gas prices and real economic activity," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 511-526.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:43708. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht)
If references are entirely missing, you can add them using this form.