Abstract
Energy economics studies energy resources and energy commodities. It includes forces motivating firms and consumers to supply, convert, transport, use energy resource; market and regulatory structures; distributional and environmental consequences; economically efficient use. The fact that energy use is dominantly depletable resources, particularly fossil fuels, makes this study unique. The energy industry has moved into the 21st century with promises of both profits and a short-term future. With added pressure from government, cleaner fuels are being introduced on a continual basis. Additionally, the expanding energy demand from developing countries is changing the energy market.
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Bibliography
Bohi, D., and M. Toman. 1996. The economics of energy security. Boston: Kluwer Academic Publishers.
Boyle, G. 1996. Renewable energy: Power for a sustainable future. Oxford: Oxford University Press.
Cooper, J. 2003. Price elasticity of demand for crude oil: Estimates for 23 countries. OPEC Review: Energy Economics & Related Issues 27 (1): 1–8.
Cropper, M., and W. Oates. 1992. Environmental economics: A survey. Journal of Economic Literature 30: 675–740.
Denny, M., M. Fuss, and L. Waverman. 1981. Substitution possibilities for energy: Evidence from U.S. and Canadian manufacturing. In Modeling and measuring natural resource substitution, ed. E. Berndt and B. Field. Cambridge, MA: MIT Press.
EIA (Energy Information Administration). 2001. Annual energy review 2000. Washington, DC: EIA.
EIA. 2004. Annual energy review 2004. Washington, DC: EIA.
EIA. 2005a. Annual energy review 2005. Washington, DC: EIA.
EIA. 2005b. Annual energy outlook 2005 with projections to 2025. Washington, DC: EIA.
Fang, F., and R. Sickles. 2004. The role of environmental factors in growth accounting. Journal of Applied Econometrics 19: 567–591.
Ferderer, P. 1996. Oil price volatility and macroeconomy. Journal of Macroeconomics 18: 1–26.
Gilbert, R., and J. Richard. 1978. Dominant firm pricing policy in a market for an exhaustible resource. Bell Journal of Economics 9: 385–395.
Hamilton, J. 1983. Oil and the macroeconomy since World War II. Journal of Political Economy 91: 228–248.
Hotelling, H. 1931. The economics of exhaustible resources. Journal of Political Economy 39: 137–175.
Judson, R., R. Schmalensee, and T. Stoker. 1999. Economic development and the structure of the demand for commercial energy. Energy Journal 20 (2): 29–27.
Kolstad, C. 1994. Hotelling rents in hotelling space: Product differentiation in exhaustible resource markets. Journal of Environmental Economics and Management 26: 163–180.
Loury, G. 1990. Tacit collusion in a dynamic duopoly with indivisible production and cumulative capacity constraints. Working Paper No. 557. Department of Economics, MIT.
Medlock, K., and R. Soligo. 2001. Economic development and end-use energy demand. Energy Journal 22 (2): 77–105.
Medlock, K., and R. Soligo. 2002. Car ownership and economic development with forecasts to 2015. Journal of Transport Economics and Policy 36: 163–188.
MMS (Minerals Management Service). 2005. Hurricane information. Washington, DC: MMS.
Mork, K., H. Mysen, and O. Olsen. 1994. Macroeconomic responses to oil price increases and decreases in seven OECD countries. Energy Journal 15 (4): 19–35.
Nerlove, M. 1958. Distributed lags and demand analysis for agricultural and other commodities. In Agriculture handbook, No. 141. Washington, DC: US Department of Agriculture.
Owen, A. 2004. Environmental externalities, market distortions and the economics of renewable energy technologies. Energy Journal 25 (3): 127–156.
Pindyck, R. 1982. Jointly produced exhaustible resources. Journal of Environmental Economics and Management 9: 291–303.
Salant, S. 1976. Exhaustible resources and industrial structure – Nash–Cournot approach to the world oil market. Journal of Political Economy 84: 1079–1093.
Sickles, R.B., and B.M. Jeon. 2004. The role of environmental factors in growth accounting. Journal of Applied Econometrics 19: 567–591.
Stiglitz, J. 1976. Monopoly and rate of extraction of exhaustible resources. American Economic Review 66: 655–661.
Sweeney, J. 1977. Economics of depletable resources – Market forces and intertemporal bias. Review of Economic Studies 44: 125–141.
Wiser, R., S. Olson, L. Bird, and B. Swezey. 2004. Utility green pricing programs: A statistical analysis of program effectiveness. Berkeley: Ernest Orlando Lawrence Berkeley National Laboratory and National Renewable Energy Laboratory. Online. Available at http://www.eere.energy.gov/greenpower/resources/pdfs/lbnl_54437.pdf. Accessed 1 Aug 2006.
Author information
Authors and Affiliations
Editor information
Copyright information
© 2018 Macmillan Publishers Ltd.
About this entry
Cite this entry
Sickles, R., Huntington, H.G. (2018). Energy Economics. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_663
Download citation
DOI: https://doi.org/10.1057/978-1-349-95189-5_663
Published:
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-95188-8
Online ISBN: 978-1-349-95189-5
eBook Packages: Economics and FinanceReference Module Humanities and Social SciencesReference Module Business, Economics and Social Sciences