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Did Iraq Cheat the United Nations? Underpricing, Bribes, and the Oil for Food Program
Hsieh, Chang-Tai - 2005
From 1997 through early 2003, the United Nations Oil for Food Program allowed Iraq to export oil in exchange for … humanitarian supplies. We measure the extent to which this program was corrupted by Iraq's attempts to deliberately set the price … between the official selling price of Iraq's two crude oils (Basrah Light and Kirkuk) and the market price of several …
Persistent link: https://www.econbiz.de/10012467483
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Oil and Democracy in Russia
Treisman, Daniel - 2010
Russia is often considered a perfect example of the so-called "resource curse"--the argument that natural resource wealth tends to undermine democracy. Given high oil prices, some observers see the country as virtually condemned to authoritarian government for the foreseeable future. Reexamining...
Persistent link: https://www.econbiz.de/10012462985
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Oil and Gas Revenue Allocation to Local Governments in Eight States
Newell, Richard G. - 2015
This report examines how oil and gas production generates revenue for local governments in eight states through four key mechanisms: (i) state taxes or fees on oil and gas production; (ii) local property taxes on oil and gas property; (iii) leasing of state-owned land; and (iv) leasing of...
Persistent link: https://www.econbiz.de/10012457054
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Oil and the Dollar
Krugman, Paul R. - 1980
This paper develops a simple theoretical model of the effect of an oil price increase on exchange rates. The model shows that the direction of this effect depends on a comparison of the direct balance of payments burden of the higher oil price with the indirect balance of payments benefits of...
Persistent link: https://www.econbiz.de/10012478581
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The Propagation of Prices in the Oil Industry
Kisselgoff, Avram - 1978
The main thrust of this report is the development of a price record that would provide a basis for the identification of the areas of activity in the oil industry in which significant price changes have occurred, with expectation that this type of information could serve as a useful ingredient...
Persistent link: https://www.econbiz.de/10012478898
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Are Energy Executives Rewarded For Luck?
Davis, Lucas W. - 2018
In this paper, we examine executive compensation data from 78 major U.S. oil and gas companies over a 24-year period. Perhaps in no other industry are the fortunes of so many executives so dependent on a single global commodity price. We find that a 10% increase in oil prices is associated with...
Persistent link: https://www.econbiz.de/10012481038
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The Predictive Content of Energy Futures : An Update on Petroleum, Natural Gas, Heating Oil and Gasoline
Chinn, Menzie D. - 2005
This paper examines the relationship between spot and futures prices for energy commodities (crude oil, gasoline, heating oil markets and natural gas). In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot prices. We find that while...
Persistent link: https://www.econbiz.de/10012467654
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Lags, Costs, and Shocks : An Equilibrium Model of the Oil Industry
Bornstein, Gideon - 2017
We use a new micro data set to estimate a stochastic industry-equilibrium model of the oil industry. This effort is a first step towards studying the importance of ongoing structural changes in the oil market in a general-equilibrium model of the world economy. We analyze the impact of the...
Persistent link: https://www.econbiz.de/10012455258
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Risky Oil : It's All in the Tails
Baumeister, Christiane; Huber, Florian; Marcellino, … - National Bureau of Economic Research - 2024
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
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Pass-Through of Oil Prices to Japanese Domestic Prices
Shioji, Etsuro - 2010
In this paper, we investigate changes in the impacts of world crude oil prices on domestic prices in Japan. First, we employ a time-varying parameter VAR (TVP-VAR) approach to confirm that the rate of pass-through of oil prices declined, both at the aggregate and sectoral levels, for the period...
Persistent link: https://www.econbiz.de/10012462762