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The Geography of Inter-State Resource Wars
Caselli, Francesco - 2013
geographic location for inter-State conflict. The main predictions of the theory are that conflict tends to be more likely when …
Persistent link: https://www.econbiz.de/10013083090
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Are Windfalls a Curse? A Non-Representative Agent Model of the Current Account and Fiscal Policy
Tornell, Aaron; Lane, Philip R. - 2021
In several countries temporary terms of trade improvements have led to a deterioration of the current account. Furthermore, many of these countries failed to attain greater post-boom growth rates. The point we make is that the structure of the fiscal process is critical in determining outcomes....
Persistent link: https://www.econbiz.de/10013237941
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News Shocks in Open Economies : Evidence from Giant Oil Discoveries
Arezki, Rabah - 2015
This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output–the delay between a discovery and production is on average 4 to 6 years. We first...
Persistent link: https://www.econbiz.de/10013030068
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Resource Windfalls, Political Regimes, and Political Stability
Caselli, Francesco - 2011
We study theoretically and empirically whether natural resource windfalls affect political regimes. We document the following regularities. Natural resource windfalls have no effect on the political system when they occur in democracies. However, windfalls have significant political consequences...
Persistent link: https://www.econbiz.de/10013117944
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Resource Concentration and Civil Wars
Morelli, Massimo - 2014
points) is identified. The theory predicts war to be more likely when resource and group concentration are high, and the …
Persistent link: https://www.econbiz.de/10013053845
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The Natural Resource Curse : A Survey
Frankel, Jeffrey A. - 2010
It is striking how often countries with oil or other natural resource wealth have failed to grow more rapidly than those without. This is the phenomenon known as the Natural Resource Curse. The principle has been borne out in some econometric tests of the determinants of economic performance...
Persistent link: https://www.econbiz.de/10013145250
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Oil and Democracy in Russia
Treisman, Daniel - 2010
Russia is often considered a perfect example of the so-called "resource curse"--the argument that natural resource wealth tends to undermine democracy. Given high oil prices, some observers see the country as virtually condemned to authoritarian government for the foreseeable future. Reexamining...
Persistent link: https://www.econbiz.de/10013148670
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Q-Factors and Investment CAPM
Zhang, Lu - 2022
The q-factor model shows strong explanatory power and largely summarizes the cross section of average stock returns. In particular, the q-factor model fully subsumes the Fama-French (2018) 6-factor model in head-to-head factor spanning tests. The q-factor model is an empirical implementation of...
Persistent link: https://www.econbiz.de/10013309635
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Empirical Implications of Equilibrium Bidding in First-Price, Symmetric, Common Value Auctions
Hendricks, Kenneth; Pinkse, Joris; Porter, Robert H. - 2021
This paper studies federal auctions for wildcat leases on the Outer Continental Shelf from 1954 to 1970. These are leases where bidders privately acquire (at some cost) noisy, but equally informative, signals about the amount of oil and gas that may be present. We develop a test of equilibrium...
Persistent link: https://www.econbiz.de/10013244730
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Estimation of a Dynamic Auction Game
Jofre-Bonet, Mireia; Pesendorfer, Martin - 2021
This paper proposes an estimation method for a repeated auction game under the presence of capacity contraints. The … estimation strategy is computationally simple as it does not require solving for the equilibrium of the game. It uses a two stage … estimation method to repeated highway construction procurement auctions in the state of California between May 1996 and May 1999 …
Persistent link: https://www.econbiz.de/10013217920