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Title:Supply-side effects of strong energy price hikes in German industry and transportation PDF Logo
Authors:Knetsch, Thomas A.
Molzahn, Alexander
Issue Date:2009
Series/Report no.:Discussion Paper Series 1: Economic Studies 2009,26
Abstract:The paper studies the short-term effects of energy price hikes on the supply of industrial goods and transport services including the repercussions on remuneration of input factors. While industry had suffered more strongly from the oil price shock of the late 1970s compared with the one of the early 1970s and the 2004-08 upsurge, evidence is reverse for transportation. Regarding the impact on the income distribution, both sectors share the pattern that in the recent episode rising energy costs were more than compensated by falling unit labor costs while in the 1970s cost structures had been strained by expansive wage policy in addition to the oil price shocks.
Subjects:Energy prices
supply of goods and services
income distribution
Document Type:Working Paper
Appears in Collections:Discussion Paper Series 1: Economic Studies, Deutsche Bundesbank

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