Accession Number:

ADA036146

Title:

An Evaluation of the GNP Deflator as a Basis for Adjusting the Allowable Price of Crude Oil,

Descriptive Note:

Corporate Author:

CENTER FOR NAVAL ANALYSES ARLINGTON VA

Personal Author(s):

Report Date:

1977-02-01

Pagination or Media Count:

56.0

Abstract:

The price controls on crude oil, beginning in February 1976, allowed the average price to grow at the same rate as the GNP deflator. An additional increase up to 3 per year was also allowed. Furthermore, the two adjustments to price were limited to a total of 10 per year. The use of the GNP deflator to adjust the price of crude oil is evaluated to determine whether it compensates for changes in the prices of purchased items and labor used in the discovery and production of crude oil. A price index for these costs is constructed and compared with the GNP deflator for the period 1965 to 1976. Author

Subject Categories:

  • Economics and Cost Analysis

Distribution Statement:

APPROVED FOR PUBLIC RELEASE