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Modeling and Simulation of the U.S. Economy with Alternative Energy Availabilities

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  • J. B. Penn
  • Bruce A. McCarl
  • Lars Brink
  • George D. Irwin

Abstract

The acute energy shortages of 1973–74 accentuated the pervasiveness of energy utilization in the U.S. economy and underscored the complexity of the system interrelationships. It was also revealed that little is known about these interrelationships. This article reports on a systems analysis of the short-run economic effects of alternative situations involving reduced energy availability. The impacts of several different energy availabilities are analyzed. Specifically, the situations considered are a 2% quantity reduction in domestic coal supply, a 1.0 and a 1.5 million barrel per day reduction in crude petroleum imports, and a 10% quantity reduction in natural gas supply.

Suggested Citation

  • J. B. Penn & Bruce A. McCarl & Lars Brink & George D. Irwin, 1976. "Modeling and Simulation of the U.S. Economy with Alternative Energy Availabilities," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 58(4_Part_1), pages 663-671.
    • Handle: RePEc:oup:ajagec:v:58:y:1976:i:4_part_1:p:663-671.
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    File URL: http://hdl.handle.net/10.2307/1238809
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    Cited by:

    1. Zhu, Erqian Julia & Kim, Man-Keun & Harris, Thomas R., 2009. "Input-Output Analysis, Linear Programming and Modified Multipliers," 2009 Annual Meeting, January 31-February 3, 2009, Atlanta, Georgia 46716, Southern Agricultural Economics Association.
    2. Waters, Edward C. & Holland, David W. & Weber, Bruce A., 1994. "Interregional Effects Of Reduced Timber Harvests: The Impact Of The Northern Spotted Owl Listing In Rural And Urban Oregon," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 19(1), pages 1-20, July.

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