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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/10013135056
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Historical Oil Shocks
Hamilton, James D. - 2014
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/10013068515
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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 that covers all oil fields in the world to estimate a stochastic industry-equilibrium model … market in a general-equilibrium model of the world economy. We analyze the impact of the advent of fracking on the volatility …
Persistent link: https://www.econbiz.de/10012955791
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Understanding Crude Oil Prices
Hamilton, James D. - 2010
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/10012758150
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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/10013049688
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World Equilibrium with Oil Price Increases : An Intertemporal Analysis
Marion, Nancy Peregrim; Svensson, Lars E. O. - 2021
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/10013224216
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Pandemic, War, Inflation : Oil Markets at a Crossroads?
Baumeister, Christiane - 2023
The COVID-19 pandemic as well as the Russian invasion of Ukraine have had profound effects on the global energy landscape, with some of the longer-lasting effects still unfolding. This paper discusses how these events have reshaped the supply side of the global oil market by focusing on...
Persistent link: https://www.econbiz.de/10014346319
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The Simple Economics of Commodity Price Speculation
Knittel, Christopher R. - 2013
The price of crude oil in the U.S. never exceeded $40 per barrel until mid-2004. By 2006 it reached$70, and in July 2008 it peaked at $145. By late 2008 it had plummeted to about $30 before increasingto $110 in 2011. Are speculators at least partly to blame for these sharp price changes? We...
Persistent link: https://www.econbiz.de/10013083410
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An Economic Perspective on Mexico's Nascent Deregulation of Retail Petroleum Markets
Davis, Lucas W. - 2018
Retail petroleum markets in Mexico are on the cusp of a historic deregulation. For decades, all 11,000 gasoline stations nationwide have carried the brand of the state-owned petroleum company Pemex and sold Pemex gasoline at federally regulated retail prices. This industry structure is changing,...
Persistent link: https://www.econbiz.de/10012920356
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Adjustment to Expected and Unexpected Oil Price Changes
Marion, Nancy Peregrim; Svensson, Lars E. O. - 2021
For oil importers, differences in economic performance after the 1973-74 oil price increase and after the 1979-80 increase can be attributed to a number of factors, including the fact that the 1973-74 oil price increase was unexpected whereas the 1979-80 increase was largely expected. In this...
Persistent link: https://www.econbiz.de/10013237602