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This book discusses the characteristics of the demand for energy -- its response overtime to changes in prices and in levels of economic activity and the role that energy plays as aconsumption good and as a factor in industrial production. The book is particularly concerned withdifferences in the structure of energy demand across countries and the relationship of energy demandand energy prices to macroeconomic growth in the industrialized countries.The results reported inthis econometric study may help to resolve issues that are important to the design of both energyand economic policy -- issues such as the extent to which energy demand in the long run isresponsive to price changes, the possibilities for interfuel substitution, the substitutability ofenergy with other factors (such as manpower) of industrial production, the impact of energy priceson macroeconomic output, and the ways in which energy demand differs in industrialized andunderdeveloped countries.Economists working in energy and natural resources, econometrics, andapplied microeconomics, as well as analysts and policymakers in government and business will beinterested in these results. The general reader who would like to learn more about energy economicsand policy can skip the more technical material and gather information about the importantdeterminants of energy demand, the reasons for possible intercountry differences in demand, and theimplications of the study for energy and economic policy in the United States and elsewhere. Thebook is recommended for primary or supplementary reading in courses in energy economics.
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