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Artesian power!: How to prepare for the coming groundwater revolution

Dates

Year
1982

Citation

Burke, K.J., and Kulasza, K.M., 1982, Artesian power!: How to prepare for the coming groundwater revolution: Rocky Mountain Mineral Law Institute, 42 p.

Summary

How much does real GDP respond to unanticipated changes in the real price of oil? Commonly used censored VAR models suggest a substantial decline in real GDP in response to unexpected increases in the real price of oil, yet no response to unexpected declines. We show that these estimates are invalid. Based on a structural model that encompasses both symmetric and asymmetric models as special cases, correctly computed impulse responses are of roughly the same magnitude in either direction, consistent with formal tests for symmetric responses. We discuss implications for theoretical models and for policy responses to energy price shocks.

Contacts

Communities

  • Western Energy Citation Clearinghouse

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Additional Information

Identifiers

Type Scheme Key
DOI WECC []

WECC Extension

places
nameDenver, CO
typePublication City

Citation Extension

parts
typePages
value42
citationTypeReport

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