Showing 1 - 8 of 8
It is now plausible to envision scenarios in which global demand for crude oil falls to essentially zero by the end of this century, driven by improvements in clean energy technologies, adoption of stringent climate policies, or both. This paper asks what such a demand decline, when anticipated,...
Persistent link: https://www.econbiz.de/10015145158
The Green Paradox posits that fossil fuel markets respond to changing expectations about climate legislation, which limits future consumption, by shifting consumption to the present through lower present-day prices. We demonstrate that oil futures responded negatively to daily changes in the...
Persistent link: https://www.econbiz.de/10014544684
The substantial fluctuations in oil prices in the wake of the COVID-19 pandemic and the Russian invasion of Ukraine have highlighted the importance of tail events in the global market for crude oil which call for careful risk assessment. In this paper we focus on forecasting tail risks in the...
Persistent link: https://www.econbiz.de/10014544801
We introduce a model of oligopoly dynamic pricing where firms with limited capacity face a sales deadline. We establish conditions under which the equilibrium is unique and converges to a system of differential equations. Using unique and comprehensive pricing and bookings data for competing...
Persistent link: https://www.econbiz.de/10013362001
Legislation often empowers agencies to develop rules, but legal challenges may create uncertainty, thereby increasing firm costs, delaying policy objectives, and affecting externalities. This paper investigates policy uncertainty surrounding the Mercury and Air Toxics Standard, estimating a...
Persistent link: https://www.econbiz.de/10013334514
We present a mechanism based on managerial incentives through which common ownership affects product market outcomes. Firm-level variation in common ownership causes variation in managerial incentives and productivity across firms, which leads to intra-industry and intra-firm cross-market...
Persistent link: https://www.econbiz.de/10013477278
We study changes in markups across 72 product markets from 2006 to 2018. A growing literature has documented a rise in markups over time using a production function approach; we instead employ the standard microeconomic method, which is to estimate demand and then invert firms' first-order...
Persistent link: https://www.econbiz.de/10014287331
We examine the rise of dark shipping - oil tankers disabling AIS transceivers to evade detection - amid Western sanctions on Iran, Syria, North Korea, Venezuela, and Russia. Using a machine learning-based ship clustering model, we track dark-shipped crude oil trade flows worldwide and detect...
Persistent link: https://www.econbiz.de/10015326479