Trend and Cycles in Coal and Oil Prices in the Long Run: A Schumpeterian Approach

Trend and Cycles in Coal and Oil Prices in the Long Run: A Schumpeterian Approach

We contribute to the task of identifying trends and cycles in energy prices by examining very long series of prices for coal and oil, going back to 1650 in the case of coal and 1859 in the case of oil. We find annual rates of increase in real price of greater than two percent are found for coal in o...

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Bibliographic Details
Main Authors: Bloch, Harry, Sapsford, D.
Format: Working Paper
Published: Centre for Research in Applied Economics, Curtin Business School 2011
Subjects:
business cycles
Schumpeter
endogenous technical change
oil price
Coal price
Online Access:http://hdl.handle.net/20.500.11937/7594

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