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Lower World Energy Prices: Good News or Bad News?

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  • David F. Burgess

Abstract

Lower world energy prices may reduce the overall rate of return to capital and slow down the rate of capital formation and GDP growth in a new energy-importing economy even if capital and energy are complementary inputs in 95 percent or more of the economy that uses energy as an input. Whether the economy is a net energy importer or exporter, lower world energy prices will increase the sustainable real income of the representative citizen if energy-specific resources are privately owned.

Suggested Citation

  • David F. Burgess, 1989. "Lower World Energy Prices: Good News or Bad News?," Canadian Journal of Economics, Canadian Economics Association, vol. 22(3), pages 487-502, August.
    • Handle: RePEc:cje:issued:v:22:y:1989:i:3:p:487-502
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    Cited by:

    1. Bhatia, Kul B, 1998. "Tax Incidence with Three Goods and Two Primary Factors: Theory and Applications," Public Finance = Finances publiques, , vol. 53(2), pages 123-144.

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