We formulate a dynamic game model of trade in an exhaustible resource with a quantity-setting cartel. We compute the feedback Nash equilibrium and two Stackelberg equilibria under two different leadership scenarios: leadership by the strategic importing country, and leadership by the exporting...

We estimate the impact of local mining activity on the business constraints experienced by 22,150 firms across eight resource-rich countries. We find that with the presence of active mines, the business environment in the immediate vicinity (20 km) of a firm deteriorates but business constraints...

We formulate a dynamic game model of trade in an exhaustible resource with a quantity-setting cartel. We compute the feedback Nash equilibrium and two Stackelberg equilibria under two different leadership scenarios: leadership by the strategic importing country, and leadership by the exporting...

Producers or consumers faced with an increase in taxes are usually able to shift parts of it to other levels in the value chain. We examine who is actually bearing the burden of increased energy taxes in the EU-area - consumers or exporters. Traditional tax incidence theory presumes spot...

Following the Brent Spar controversy, the OSPAR countries reached a unanimous agreement in 1998 for the future rules for disposal of petroleum installations. The vast majority of existing offshore installations will be re-used or returned to shore for recycling or disposal. For installations...

Are competitive mechanisms perceived as just sources of economic inequality? Perceptions of fairness violations can have severe economic consequences, as they may cause counterproductive behavior such as rule book slowdowns or quality shading. To analyze fairness perceptions associated with...

We examine whether compulsory voting influences habit-formation in voting. In Austria, some states temporarily introduced compulsory voting in national elections. We exploit border municipalities across two states that differ in compulsory voting legislation using a difference-in-differences and...

We use machine-learning methods to study the features and origins of the ideas of Francis Bacon, a key figure who contributed to the intellectual roots of a cultural paradigm that spurred modern economic development. Bacon's works are the data in an estimation of a structural topic model, a...

This paper shows that Tabellini’s recent claim to have provided evidence that culture has a causal effect on economic development is unjustified. Tabellini’s claim is based on an instrumental variables analysis in which two instruments are used to identify the supposed causal effect. One of...

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...