This paper studies the dynamic behavior of daily oil prices and finds strong evidence of GARCH as well as conditional jump behavior. This implies that conditional heteroscedasticity is present and the empirical distribution of oil price changes has heavy tails. Thus, the oil price considerably...

We analyze the effects of an announced future carbon tax increase on the extraction behavior of a monopolistic supplier of a scarce fossil energy resource like oil in a two country, two period general equilibrium model with symmetric and homothetic preferences and no extraction costs. Based on...

We analyze monopoly power in a market for a complementary fossil resource like oil in a two country/two period model with international trade in general equilibrium. Focusing on the complex interplay of capital and resource market, we elaborate how these effects feed back into the resource...

Using the environmental decision support system DANUBIA, we analyze the effects of climate change on industry and compare the effectiveness of different adaptation strategies. The observed area covers Germany and Austria up to 2025. Since the main effects of climate change in this region are...

Exploiting the information contained in an economy's input-output matrix and using the novel approach developed by Fisher and Marshall (2011), we calculate Rybczynski effects and Stolper-Samuelson effects for Germany in 2007. We show how sectoral output and factor remuneration react to exogenous...

Inspired by the theory of variety-expanding product innovation we derive a testable relationship of outsourcing on the growth rate of knowledge. We estimate this relationship with a firm-level dataset, which is a unique match of PATSTAT patent data and the Amadeus dataset. We find evidence that...

Around the turn of the year 2005/2006, the Russian freezing of natural gas exports to the Ukraine led to a European gas crisis. Using event study techniques, we first investigate whether the Russian suspension of gas deliveries, the announcement of this suspension as well as its withdrawal had...

This paper explores the role of oil for the Kazakh economy. In order to assess the degree of volatility the oil price features, it, firstly, discusses the literature on oil price behaviour. Secondly, it analyzes the effect of oil price declines on key macroeconomic variables such as real GDP,...