Abstract
Lower world energy prices may reduce the overall rate of return to capital and slow down the rate of capital formation and GDP growth in a new energy-importing economy even if capital and energy are complementary inputs in 95 percent or more of the economy that uses energy as an input. Whether the economy is a net energy importer or exporter, lower world energy prices will increase the sustainable real income of the representative citizen if energy-specific resources are privately owned.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
