The energy problem in a small open economy |
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Authors: | Theo Van De Klundert |
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Affiliation: | Tilburg University The Netherlands |
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Abstract: | The paper deals with the economic consequences of an oil price shock in a small open economy. The analysis along neoclassical lines is based upon a three-factor nested CES production function. The model takes account of capital accumulation. Analytical solutions for the short- and long-run are presented for a linearized version of the original model, which makes existing results more tractable. |
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