Template-Type: ReDIF-Article 1.0
Author-Name:  Elena Folkerts-Landau
Title:  The Social Cost of Imported Oil
Classification-JEL: F0
Pages:  41-58
Volume:  Volume 5
Issue:  Number 3
Year:  1984
Abstract:  Structural adjustments in the economy and an increase in uncertainty about future oil prices followed the two oil price shocks of the 1970s and suggested that continued dependence on imported oil was costly. It was argued that private decisions to consume imported oil did not appropriately take into account the country's vulnerability to oil exporters. Accordingly, a literature developed around the idea that the market price of imported oil does not reflect the full social cost.
Handle: RePEc:aen:journl:1984v05-03-a04
File-URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1650
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