, water quality, and health outcomes of Uruguay's nationalization of water services. An important advantage of focusing on … nationalization rather than privatization is that it avoids selection bias due to cherry-picking by firms or governments at the time … of privatization. Indeed, nationalization in Uruguay affected all private firms, as water was declared "part of the …

In this paper we study nationalizations in the oil industry around the world in 1960-2002. We show, both theoretically … nationalization is inefficient it does occur in equilibrium when oil prices are high. The model's predictions are consistent with the … panel analysis of a comprehensive dataset on nationalizations in the oil industry since 1960. Nationalization is more likely …

We use variation in oil output among Brazilian municipalities to investigate the effects of resource windfalls. We find … muted effects of oil through market channels: offshore oil has no effect on municipal non-oil GDP or its composition, while … onshore oil has only modest effects on non-oil GDP composition. However, oil abundance causes municipal revenues and reported …

less transparent government-owned companies such as the world-largest natural gas producer Gazprom: they appear to be …

analysis shows that the presence and location of oil are significant and quantitatively important predictors of inter …

Oil exporters typically do not consider below-ground assets when allocating their sovereign wealth fund portfolios, and … ignore above-ground assets when extracting oil. We present a unified framework for considering both. Subsoil oil should alter … any unhedged volatility must be managed by precautionary savings. If oil prices are pro-cyclical, oil should be extracted …

becoming terrorists when representing regions rich in oil. Groups that participate in exerting power over their region are less …

responses to the inflation triggered by oil price shocks are an important source of aggregate fluctuations in the U.S. economy …. We show that there is no evidence of systematic monetary policy responses to oil price shocks after 1987 and that this … VAR models, the Federal Reserve was not responding to the inflation triggered by oil price shocks, as commonly presumed …