Urbanization shifts production activities formerly undertaken in the home with little or no energy to outside producers who do use energy. One of the largest changes is the daily travel of urban residents, primarily but not exclusively, to work Personal transportation in rural areas generally...

This paper reports on developments in theoretical and empirical understanding of the macroeconomic consequences of oil price shocks since 1996, when the U.S. Department of Energy sponsored a workshop summarizing the state of understanding of the subject. Four major insights stand out. First,...