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Petroleum taxation and investment behaviour
Osmundsen, Petter; Emhjellen, Magne; Johnsen, Thore; … - 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/10010426021
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The location of cross-border mergers & acquisitions in the USA
Brakman, Steven; Garretsen, Harry; Marrewijk, Charles van - 2015 - First version: October 2014, this version: April 2015
neglected. In this paper we analyze the within country location-target selection of M&As in the USA. Extending Guadalupe (2012 … the USA for the period 1985-2012, we compare location choices of cross-border M&As to that of national M&As. We find that … across the USA than national M&As, and that for both forms of M&As location specific market access in the USA as well as …
Persistent link: https://www.econbiz.de/10010515424
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How do financial crises redistribute risk?
Mitchener, Kris; Vossmeyer, Angela - 2023
the system, and that merger policies commonly used to deal with troubled financial institutions during crises have …
Persistent link: https://www.econbiz.de/10014323137
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Estimating fluctuations in oil and gas investment
Dahl, Roy Endré; Osmundsen, Petter - 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/10010417468
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Horizontal merger under strategic tax policy
Liu, Chih-Chen; Mukherjee, Arijit; Wang, Leonard F. S. - 2014
We show that the presence of a strategic tax policy increases the incentive for a horizontal merger compared to the … a horizontal merger that has been ignored in the existing literature. In contrast to the usual belief, we also show that … a horizontal merger may benefit the consumers and the society. …
Persistent link: https://www.econbiz.de/10010412755
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Merger in contests
Huck, Steffen; Konrad, Kai A.; Müller, Wieland - 2000
Competition in some markets is a contest. This paper studies the merger incentives in such markets. Merger can be … profitable. The profitability depends on the post-merger contest st ructure, the discriminatory power of the contest and on the …
Persistent link: https://www.econbiz.de/10009781515
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Is Norway's bird-in-hand stabilization fund prudent enough? : fiscal reactions to hydrocarbon windfalls and graying populations
Harding, Torfinn; Ploeg, Frederick van der - 2009
We estimate fiscal reaction functions for non-hydrocarbon tax and public spending shares of national income and for debt management strategies adopted by Norway and compare these with rules that would prevail under the permanent income hypothesis and bird-in-hand rule. We conclude that the...
Persistent link: https://www.econbiz.de/10003897374
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Oil exports and the Iranian economy
Esfahani, Hadi Salehi; Mohaddes, Kamiar; Pesaran, M. Hashem - 2009
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10003897747
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The impact of the fracking boom on Arab oil producers
Kilian, Lutz - 2016
This article contributes to the debate about the impact of the U.S. fracking boom on U.S. oil imports, on Arab oil exports, and on the global price of crude oil. First, I investigate the extent to which this oil boom has caused Arab oil exports to the United States to decline since late 2008....
Persistent link: https://www.econbiz.de/10011422578
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Country-specific oil supply shocks and the global economy : a counterfactual analysis
Mohaddes, Kamiar; Pesaran, M. Hashem - 2015
This paper investigates the global macroeconomic consequences of country-specific oil-supply shocks. Our contribution is both theoretical and empirical. On the theoretical side, we develop a model for the global oil market and integrate this within a compact quarterly model of the global economy...
Persistent link: https://www.econbiz.de/10010528313