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Lags, Costs, and Shocks : An Equilibrium Model of the Oil Industry
Bornstein, Gideon - 2017
the world economy. We analyze the impact of the advent of fracking on the volatility of oil prices. Our model predicts a …
Persistent link: https://www.econbiz.de/10012455258
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Estimating the Customer-Level Demand for Electricity Under Real-Time Market Prices
Patrick, Robert H. - 2001
This paper presents estimates of the customer-level demand for electricity by industrial and commercial customers … purchasing electricity according to the half-hourly energy prices from the England and Wales (E&W) electricity market. These … customers also face the possibility of a demand charge on their electricity consumption during the three half-hour periods that …
Persistent link: https://www.econbiz.de/10012470511
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Granular Credit Risk
Galaasen, Sigurd - 2020
What is the impact of granular credit risk on banks and on the economy? We provide the first causal identification of single-name counterparty exposure risk in bank portfolios by applying a new empirical approach on an administrative matched bank-firm dataset from Norway. Exploiting the fat tail...
Persistent link: https://www.econbiz.de/10012482214
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Granular Instrumental Variables
Gabaix, Xavier - 2020
We propose a new way to construct instruments in a broad class of economic environments: "granular instrumental variables" (GIVs). In the economies we study, a few large firms, in- dustries or countries account for an important share of economic activity. As the idiosyncratic shocks from these...
Persistent link: https://www.econbiz.de/10012482423
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World Equilibrium with Oil Price Increases : An Intertemporal Analysis
Marion, Nancy Peregrim - 1983
world rate of interest(intertemporal terms of trade effects) and, for rigid wages, changes in employment. Thus Industria … gains from the intertemporal terms of trade effect if it is a net borrower and the world rate of interest falls. Precise … conditions for whether the world rate of interest falls or rises are given.We also show that Industria may gain from subsidizing …
Persistent link: https://www.econbiz.de/10012478029
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Historical Oil Shocks
Hamilton, James D. - 2011
post-World-War-II oil shocks reviewed include the Suez Crisis of 1956-57, the OPEC oil embargo of 1973-1974, the Iranian …
Persistent link: https://www.econbiz.de/10012461867
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Cursed Resources? Political Conditions and Oil Market Outcomes
Metcalf, Gilbert E. - 2010
understanding world oil markets …
Persistent link: https://www.econbiz.de/10012462043
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Understanding Crude Oil Prices
Hamilton, James D. - 2008
This paper examines the factors responsible for changes in crude oil prices. The paper reviews the statistical behavior of oil prices, relates these to the predictions of theory, and looks in detail at key features of petroleum demand and supply. Topics discussed include the role of commodity...
Persistent link: https://www.econbiz.de/10012464155
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The Changing Face of World Oil Markets
Hamilton, James D. - 2014
point in the history of the world's use of this key energy source. In this article I review five of the ways in which the … world of energy may have changed forever …
Persistent link: https://www.econbiz.de/10012458312
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World War I and the Restructuring of International Business
Fertik, Ted - 2020
This paper considers the effect of the First World War on large-scale businesses in Second …-Industrial-Revolution industries like steel, electricity, and chemicals. For firms in the nations of the Entente, we argue, the war mainly interrupted … the construction of massive steel works in Brazil and other industrializing countries around the world. These investments …
Persistent link: https://www.econbiz.de/10012482443