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- W1884908999 abstract "The purpose of this paper is to outline some initial steps toward the construction of an adequate dynamic analysis of oil price controls. A precise description of the goals and structure of current price controls is provided. These controls are characterized in a dynamic model that generates estimates of efficiency losses and wealth transfers. A simple dynamic model of oil production is also developed. The dynamic model leads to 2 conclusions: (1) in the short-term, continued controls are likely to lead to larger rates of domestic crude oil production than would exist if controls were removed; and (2) a multi-part pricing system that is neutral in its effects on production decisions in a static context is not neutral in a dynamic model." @default.
- W1884908999 created "2016-06-24" @default.
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- W1884908999 date "1977-10-01" @default.
- W1884908999 modified "2023-09-27" @default.
- W1884908999 title "The Transition to Uncontrolled Crude Oil Prices" @default.
- W1884908999 hasPublicationYear "1977" @default.
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