The Oil Price Shock and Labor Reallocation

by Bob Burkhardt
14.671J

Converted to HTML July 29, 1998.

This is a paper I did as a graduate student in economics at M.I.T. The paper was done as a term paper for a Labor Economics class I took at the Massachusetts Institute of Technology in Winter, 1976. Michael Piore taught the class. His approach was a refreshing contrast to what I got in my other classes, although I found the other classes quite interesting as well. My paper's traditional supply and demand analysis reflects more what I was getting in my other classes than what I got in his.

I struggled with the report mightily, but it didn't really come to much as the conclusion indicates.

A version in PDF format is available. The equations are more readable in that version.

Contents

Chapter 1: Introduction

Chapter 2: A Theoretical Framework

Chapter 3: Unemployment as a Manifestation of Labor Reallocation

Chapter 4: Input-Output Evidence

Chapter 5: Conclusion

Appendix: Energy Intensity by Sector for Dept. of Commerce's 1972 Input-Output Matrix

References

Tables

Table 4.1: Proportion of Employment in Different Sectors of the U.S. Economy
January, 1969 to July, 1976

Table 4.2: Proportion of Employment in Different Sectors of the U.S. Economy
January, 1956 to January, 1959

Economics Paper Index

Chapter 1:	Introduction
Chapter 2:	A Theoretical Framework
Chapter 3:	Unemployment as a Manifestation of Labor Reallocation
Chapter 4:	Input-Output Evidence
Chapter 5:	Conclusion
Appendix:	Energy Intensity by Sector for Dept. of Commerce's 1972 Input-Output Matrix
References


Table 4.1:	Proportion of Employment in Different Sectors of the U.S. Economy January, 1969 to July, 1976
Table 4.2:	Proportion of Employment in Different Sectors of the U.S. Economy January, 1956 to January, 1959