The Economics of Energy


The Economics of Energy

9781858983851 Edward Elgar Publishing
Edited by Paul Stevens, Senior Research Fellow (Energy), Chatham House, London, UK
Publication Date: 2000 ISBN: 978 1 85898 385 1 Extent: 1,216 pp
Energy is of major importance for the competitive performance of firms and of nations and for the long-term growth of the world economy. This major two volume collection reprints the most significant theoretical and empirical research on energy economics that has been conducted during the last 70 years.

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Energy is of major importance for the competitive performance of firms and of nations and for the long-term growth of the world economy. This major two volume collection reprints the most significant theoretical and empirical research on energy economics that has been conducted during the last 70 years.

The first volume includes a discussion of why energy matters together with demand side issues, conservation and modelling. The second volume looks at supply side issues; markets – players and prices; markets versus governments; and issues which concern developing countries.

This authoritative collection will be an essential reference source for students, economists, policymakers and practitioners concerned with the global economic and environmental impact of energy.
Critical Acclaim
‘The introduction works well as a literature review in its own right . . . Stevens manages to acknowledge the multitude of important papers that for lack of space and fear of information overload he was unable to include in these volumes, giving the books even greater value as a reference source. Some of the papers chosen are definitely classics . . . they fit together well to cover most important issues related to the economics of energy.’
– Roger Fouquet, Economic Affairs
48 articles, dating from 1931 to 1998
Contributors include: M.A. Adelman, S.C. Bhattacharyya, A. Dilnot, H. Hotelling, H.G. Huntingdon, M. Munasinghe, J.P. Neary, D.M. Newbery, W.D. Nordhaus, E.T. Penrose

Volume I:
Introduction Paul Stevens

Part I Why Energy Matters
1. William D. Nordhaus (1980), ‘Oil and Economic Performance in Industrial Countries’
2. Knut Anton Mork (1994), ‘Business Cycles and the Oil Market’
3. W.M. Corden (1976), ‘Framework for Analysing the Implications of the Rise in Oil Prices’
4. J. Peter Neary and Sweder van Wijnbergen (1986), ‘Natural Resources and the Macroeconomy: A Theoretical Framework’
Part II Demand Side Issues
5. Nathan Rosenberg (1980), ‘Historical Relations Between Energy and Economic Growth’
6. William S. Humphrey and Joe Stanislaw (1979), ‘Economic Growth and Energy Consumption in the UK, 1700–1975’
7. Enrique Pagá and Nadir Gürer (1996), ‘Reassessing Energy Intensities: A Quest for New Realism’
8. G.C. Watkins (1992), ‘The Economic Analysis of Energy Demand: Perspectives of a Practitioner’
9. Ramesh Bhatia (1987), ‘Energy Demand Analysis in Developing Countries: A Review’
10. Lorna A. Greening and Hann Tarn Jeng (1994), ‘Lifecycle Analysis of Gasoline Expenditure Patterns’
11. D.S. Ironmonger, C.K. Aitken and B. Erbas (1995), ‘Economies of Scale in Energy Use in Adult-Only Households’
12. Andrew Dilnot and Dieter Helm (1987), ‘Energy Policy, Merit Goods and Social Security’
Part III Conservation
13. R.W. Bates (1991), Energy Conservation Policy in Developing Countries: The Case for Market Solutions
14. Kenneth Train (1985), ‘Discount Rates in Consumers’ Energy Related Decisions: A Review of the Literature’
15. Kevin A. Hassett and Gilbert E. Metcalf (1993), ‘Energy Conservation Investment: Do Consumers Discount the Future Correctly?’
16. Shimon Awerbuch and William Deehan (1995), ‘Do Consumers Discount the Future Correctly? A Market-Based Valuation of Residential Fuel Switching’
17. Amulya K.N. Reddy (1991), ‘Barriers to Improvements in Energy Efficiency’
18. David L. Greene (1992), ‘Vehicle Use and Fuel Economy: How Big is the “Rebound” Effect?’
Part IV Modelling
19. William D. Nordhaus (1973), ‘The Allocation of Energy Resources’
20. Subhes C. Bhattacharyya (1996), ‘Applied General Equilibrium Models for Energy Studies: A Survey’
21. Djavad Salehi-Isfahani (1995), ‘Models of the Oil Market Revisited’
Name Index

Volume II:
An introduction by the editor to both volumes appears in Volume I

Part I Supply Side Issues
1. Harold Hotelling (1931) ‘The Economics of Exhaustible Resources’
2. Richard L. Gordon (1967), ‘A Reinterpretation of the Pure Theory of Exhaustion’
3. M.A. Adelman (1990), ‘Mineral Depletion, with Special Reference to Petroleum’
4. Richard L. Gordon (1994), ‘Energy, Exhaustion, Environmentalism, and Etatism’
5. M.A. Adelman and G.C. Watkins (1995), ‘Reserve Asset Values and the Hotelling Valuation Principle: Further Evidence’
6. Peter J. McCabe (1998), ‘Energy Resources – Cornucopia or Empty Barrel?’
7. Ross Garnaut and Anthony Clunies Ross (1975), ‘Uncertainty, Risk Aversion and the Taxing of Natural Resource Projects’
8. Keith F. Palmer (1980), ‘Mineral Taxation Policies in Developing Countries: An Application of Resource Rent Tax’
9. Charles R. Blitzer, Donald R. Lessard and James L. Paddock (1984), ‘Risk-Bearing and the Choice of Contract Forms for Oil Exploration and Development’
10. Zenon S. Zannetos (1987), ‘Oil Tanker Markets: Continuity Amidst Change’
Part II Markets – The Players
11. Edith Tilton Penrose (1959), ‘Profit Sharing Between Producing Countries and Oil Companies in the Middle East’
12. Edith T. Penrose (1965/1971), ‘Vertical Integration with Joint Control of Raw Material Production: Crude Oil in the Middle East’
13. Dermot Gately (1984), ‘A Ten-Year Retrospective: OPEC and the World Oil Market’
14. Michael C. Lynch (1995), ‘Shoulder against Shoulder: The Evolution of Oil Industry Strategy’
Part III Markets – Prices
15. M.A. Adelman (1986), ‘Scarcity and World Oil Prices’
16. Robert Mabro (1990), OPEC and the Price of Oil
17. Paul Stevens (1995), ‘The Determination of Oil Prices 1945–95’
18. John Mitchell (1982), ‘Anatomy of an Oil Crisis’
19. Hillard G. Huntington (1994), ‘Oil Price Forecasting in the 1980s: What Went Wrong?’
20. Mohan Munasinghe (1980), ‘An Integrated Framework for Energy Pricing in Developing Countries’
Part IV Markets versus Governments
21. Dieter Helm, John Kay and David Thompson (1988), ‘Energy Policy and the Role of the State in the Market for Energy’
22. Colin Robinson (1993), ‘The Case for an Energy Policy’
23. David M. Newbery (1996), ‘The Restructuring of UK Energy Industries: What Have We Learned?’
Part V Developing Countries
24. P.J.G. Pearson and P.J. Stevens (1987), ‘Integrated Energy Forecasting and Policy in LDCs: Problems and Prospects’
25. David Pearce and Michael Webb (1987), ‘Rural Electrification in Developing Countries: A Reappraisal’
26. Mohan Munasinghe (1988), ‘The Economics of Rural Electrification Projects’
27. D.O. Hall (1991), ‘Biomass Energy’
Name Index
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