search query: @author Renshaw, E. / total: 5
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| Author: | Renshaw, E. |
| Title: | Identifying no growth years in the USA economy |
| Journal: | Energy Economics
1992 : APR, VOL. 14:2, p.132-135 |
| Index terms: | ECONOMIC GROWTH USA OIL PRICES RECESSION EMPLOYMENT |
| Language: | eng |
| Abstract: | The correlation between the development of crude oil prices and economic growth in the USA is investigated. There have been a few years since 1947 when the economy in the USA was able to absorb a large increase in the price of crude oil without getting bogged down or remaining in an economic recession but they have so far always occured when the economy was operating at a condition of less than full employment and the revised index of 11 leading economic indicators was increasing at a modest rate. Every year when crude oil prices increased by more than 5 p.c. and the index of leading indicators declined by at least 1 p.c. has been followed by a no growth year for the economy in the USA. |
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