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Estimating Fluctuations in Oil and Gas Investment

Dahl, Roy Endré; Osmundsen, Petter - CESifo - 2014

Governments in extraction countries are anxious to estimate expected investment in development projects, since they represent an essential element of the macro economy. The overall level of activity is also crucial to oil companies, since the macro picture affects cost levels, the supplies...

Persistent link: https://www.econbiz.de/10010948869

How do Electoral Systems Affect Fiscal Policy? Evidence from State and Local Governments, 1890 to 2005

Funk, Patricia; Gathmann, Christina - CESifo - 2010

Using a new data set on Swiss state and local governments from 1890 to today, we analyze how the adoption of proportional representation affects fiscal policy. We show that proportional systems shift spending toward broad goods (e.g. education and welfare benefits) but decrease spending on...

Persistent link: https://www.econbiz.de/10008534018

Petroleum Taxation and Investment Behaviour

Osmundsen, Petter; Emhjellen, Magne; Johnsen, Thore; … - CESifo - 2014

Petroleum administration can be regarded as a principal-agent problem. The government allocates exploration and production rights to petroleum companies on behalf of the population. The government is the principal and the companies are agents. With the aim of capturing revenue for the state, the...

Persistent link: https://www.econbiz.de/10010948872

Unconventional Gas and the European Union: Prospects and Challenges for Competitiveness

Vollebergh, Herman R. J.; Drissen, Eric - CESifo - 2014

This article studies the likely impact of unconventional gas developments in the U.S. on EU competitiveness. We find, first of all, little evidence for a prosperous unconventional gas development in Europe. Second, the U.S. boom has already a strong impact on both world and European energy...

Persistent link: https://www.econbiz.de/10010948880

War and Natural Resource Exploitation

Ploeg, Frederick Van der; Rohner, Dominic - CESifo - 2010

Although the relationship between natural resources and civil war has received much attention, little is known about the underlying mechanisms. Controversies and contradictions in the stylized facts persist because resource extraction is treated as exogenous while in reality fighting affects...

Persistent link: https://www.econbiz.de/10008727286

Understanding Rig Rates

Osmundsen, Petter; Rosendahl, Knut Einar; Skjerpen, Terje - CESifo - 2013

We examine the largest cost component in offshore development projects, drilling rates, which have been high in recent years. To our knowledge, rig rates have not been analysed empirically before in the economic literature. Using econometric analysis, we examine the effects of gas and oil...

Persistent link: https://www.econbiz.de/10010723539

Vertical Integration and Valuation of International Oil Companies

Misund, Bård; Osmundsen, Petter; Sikveland, Marius - CESifo - 2014

This paper studies financial statement information from the 50 largest international oil and gas companies during 1992 to 2011 and evaluates their relation to market values. In particular, we examine how this relationship is affected by accounting method choice (successful efforts versus full...

Persistent link: https://www.econbiz.de/10010960642

Entrepreneurship, Economic Conditions, and the Great Recession

Fairlie, Robert W. - CESifo - 2013

opportunities in the wage/salary sector leaving the net effect on entrepreneurship ambiguous. The most up-to-date microdata … entrepreneurship at the individual level to shed light on this question. Regression estimates indicate that local labor market … conditions are a major determinant of entrepreneurship. Higher local unemployment rates are found to increase the probability …

Persistent link: https://www.econbiz.de/10010877680

How Do Judgmental Overconfidence and Overoptimism Shape Innovative Activity?

Herz, Holger; Schunk, Daniel; Zehnder, Christian - CESifo - 2013

Recent field evidence suggests a positive link between overconfidence and innovative activities. In this paper we argue that the connection between overconfidence and innovation is more complex than the previous literature suggests. In particular, we show theoretically and experimentally that...

Persistent link: https://www.econbiz.de/10010877694

Liquidity Constraints, Household Wealth, and Entrepreneurship Revisited

Fairlie, Robert W.; Krashinsky, Harry A. - CESifo - 2012

A large body research shows a positive relationship between wealth and entrepreneurship and interprets the relationship … entrepreneurship and a different measure of wealth – net housing equity – for the two groups. Second, we examine the liquidity …

Persistent link: https://www.econbiz.de/10010877695