Econometric Studies of U.S. Energy Policy

aggregate analysis API Gasoline API Motor Gasoline assumptions average barrel behavior Btu tax capital services coal consumers crude oil demand and supply demand for gasoline determined dollars domestic availability econometric model economic effects electricity energy policy Energy sales tax equations equilibrium estimates exogenous export FHWA final demand forecast fuel prices function gasoline consumption gasoline tax Houthakker impact income elasticity input-output analysis input-output coefficients inter-industry model investment Jorgenson kerosene labor services linear linear model long-run macro-econometric model million motor fuel less natural gas nine industrial sectors nine sectors oil prices OPEC output parameters partition percent Persian Gulf personal consumption expenditures Petroleum tax physical unit price elasticity price increases price possibility frontier projections quadrillion Btu quasi-rent reduced refinery region relative shares sectors included short-run simulations sub-model TABLE tax increase translog U.S. economy U.S. energy variable costs world oil market world oil model