ABSTRACT
Few topics have elicited more discussion among economists than the international impacts of energy price increases since 1973. 1 But economists have been surprisingly indifferent to the interregional effects of relative changes in energy prices. This indifference has not been shared by business managers, public officials, or the business press. Well-known journals of opinion, such as Business Week and National Journal, have dealt extensively with interregional shifts in population and economic activity. The latter, in particular, has stressed the role of energy prices in these shifts with commendable objectivity and analytical insight.
