Low Oil Prices : Long-Term Economic Effects for the EU and Other Global Regions Based on the Computable General Equilibrium PLACE Model

Oil prices on global markets have plunged from United States (U.S.) $115 per barrel in mid-June of 2014 to U.S. $48 at end-January 2015, while other fuel prices have continued the slow downward trend of recent years. The rapid decline in oil prices...

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Bibliographic Details
Main Authors:	Boratynski, Jakub, Kasek, Leszek
Format:	Working Paper
Language:	English en_US
Published:	World Bank, Washington, DC 2015
Subjects:	NATURAL GAS OUTPUT MONETARY POLICY CANE SUBSTITUTION OIL PRICE ECONOMIC GROWTH POLICY SCENARIO ANIMAL PRODUCTS REFINED PRODUCTS RELATIVE PRICE FOSSIL FUELS SUPPLY CURVE ESP INCOME EMISSION CONSTRAINTS VEHICLES ACTIVITIES GENERATION OIL SUPPLY BALANCE OF PAYMENTS EMISSIONS HIGH ENERGY INTENSITY GAS PRICES REVENUES GAS PRICE COAL PRICES MODELS GAS PRICE OIL CONSUMPTION OIL PRODUCTION MARGINAL ABATEMENT CARBON TECHNOLOGIES SUPPLY SIDE EMISSIONS ABATEMENT STEAM COAL ECONOMIC ACTIVITY BIOMASS OILS PETROLEUM OIL PRICES EMISSIONS FROM COAL SUPPLY OF CRUDE OIL DEMAND NATURAL GAS PRICES IMPORT PRICES COAL USE SCENARIOS OIL PRICES OF COAL CLIMATE POLICIES ENERGY MIX ENERGY SOURCES REFINED PETROLEUM PRODUCTS ENERGY INTENSITY GAS PRODUCTION OIL PRODUCTS WATER FUEL SUBSTITUTION MARKETS OIL IMPORTS SUGAR CANE IMPORTS RELATIVE PRICES DRILLING ACTIVITY GENERAL EQUILIBRIUM MODEL CAPS ENERGY POLICY FUELS REAL ESTATE FINANCE CARBON EMISSIONS CARBON CAP EMISSION CONSUMPTION ECONOMIC IMPACT GAS EXTRACTION HEAT POLICIES CHEMICAL INDUSTRY BALANCE ALTERNATIVE ENERGY LOWER COSTS FINANCIAL CRISIS VALUE POWER ELECTRICITY CEMENT PRICE OF OIL OIL DRILLING OIL PRICE SCENARIO EMISSION TARGETS CLIMATE DEMAND ABATEMENT FOSSIL FUEL IMPORTS CARBON PRICE FOSSIL FUEL TAX RATES OIL PRODUCERS FUEL PRICES GAS OUTPUT ENERGY USE NET OIL MARKET ENERGY PRICES PRICE INCREASE END-USER PRICE ABATEMENT COSTS POLICY FUEL EXTRACTION INSURANCE ENERGY DEMAND ENERGY OUTLOOK NATURAL GAS SHADOW PRICE CARBON PRICES COMBUSTION OIL EXPORTERS GASEOUS FUELS LOWER PRICES FOSSIL FUEL PRICES DOMINANT FUEL ENERGY GOODS COAL FINANCIAL MARKETS ALLOCATION SUPPLY CRUDE OIL FUEL OIL SHOCKS DRILLING PRICES OF ENERGY COMMODITY MARKETS AVAILABILITY LABOR SUPPLY CLIMATE POLICY OUTPUT DECLINES EXCHANGE RATE PETROLEUM PRODUCTS CARBON TAX GASES POLICY ANALYSIS OIL USE HEAT GENERATION FOSSIL EMISSION PRICING PRICES APPROACH F- GASES OIL SECTOR GAS DISTRIBUTION BENEFITS ECONOMIC ADJUSTMENT ENERGY
Online Access:	http://documents.worldbank.org/curated/en/2015/06/24677885/low-oil-prices-long-term-economic-effects-eu-other-global-regions-based-computable-general-equilibrium-place-model http://hdl.handle.net/10986/22398

Internet

http://documents.worldbank.org/curated/en/2015/06/24677885/low-oil-prices-long-term-economic-effects-eu-other-global-regions-based-computable-general-equilibrium-place-model
http://hdl.handle.net/10986/22398

Low Oil Prices : Long-Term Economic Effects for the EU and Other Global Regions Based on the Computable General Equilibrium PLACE Model

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