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Prices and Supply Disruptions During Natural Disasters
Cavallo, Alberto - 2013
2010 earthquake in Chile and the 2011 earthquake in Japan. In both cases there was an immediate and persistent effect on … product availability. The number of goods available for sale fell 32% in Chile and 17% in Japan from the day of the disaster … Chile are consistent with pricing models where retailers have fear of "customer anger". In Japan, by contrast, the evidence …
Persistent link: https://www.econbiz.de/10013075420
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Productivity, Wages, and Prices Inside and Outside of Manufacturing in the U.S., Japan, and Europe
Gordon, Robert J. - 2021
. Results are presented for the U. S., Japan, and an aggregate called "Europe" consisting of eleven European economies. The … uptrend in previously developed wage gap indexes for Japan and Europe between the 1960s and 1980s. If anything real wages in … Europe and Japan were too flexible rather than too rigid, in the sense that much of the increase in wage gap indexes in …
Persistent link: https://www.econbiz.de/10013244903
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Risk Premia in Crude Oil Futures Prices
Hamilton, James D. - 2013
If commercial producers or financial investors use futures contracts to hedge against commodity price risk, the arbitrageurs who take the other side of the contracts may receive compensation for their assumption of nondiversifiable risk in the form of positive expected returns from their...
Persistent link: https://www.econbiz.de/10013081835
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Unspanned Stochastic Volatility and the Pricing of Commodity Derivatives
Trolle, Anders B. - 2007
We conduct a comprehensive analysis of unspanned stochastic volatility in commodity markets in general and the crude-oil market in particular. We present model-free results that strongly suggest the presence of unspanned stochastic volatility in the crude-oil market. We then develop a tractable...
Persistent link: https://www.econbiz.de/10012778140
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An Elephant in the Garden : The Allies, Spain, and Oil in World War Ii
Caruana, Leonard - 2006
During World War II the Allies controlled Spain's oil supply in order to limit Spain's support for the Axis. This experiment with sanctions is unusually informative because a wide range of policies was tried over a long period. Three episodes are of special interest: (1) a total embargo on oil...
Persistent link: https://www.econbiz.de/10012780125
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Making Carbon Taxation a Generational Win Win
Kotlikoff, Laurence J. - 2019
Carbon taxation has been studied primarily in social planner or infinitely lived agent models, which trade off the welfare of future and current generations. Such frameworks obscure the potential for carbon taxation to produce a generational win-win. This paper develops a large-scale, dynamic...
Persistent link: https://www.econbiz.de/10012871811
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Analyzing the Risk of Transporting Crude Oil by Rail
Mason, Charles F. - 2018
In this paper, I combine data on incidents associated with rail transportation of crude oil and detailed data on rail shipments to appraise the relation between increased use of rail to transport crude oil and the risk of safety incidents associated with those shipments. I find a positive link...
Persistent link: https://www.econbiz.de/10012918316
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Crude Oil Price Differentials and Pipeline Infrastructure
McRae, Shaun - 2018
Crude oil production in the United States increased by nearly 80 percent between 2008 and 2016, mostly in areas that were far from existing refining and pipeline infrastructure. The production increase led to substantial discounts for oil producers to reflect the high cost of alternative...
Persistent link: https://www.econbiz.de/10012931212
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Addressing the Natural Resource Curse : An Illustration from Nigeria
Sala-i-Martin, Xavier; Subramanian, Arvind - 2021
Some natural resources -- oil and minerals in particular -- exert a negative and nonlinear impact on growth via their deleterious impact on institutional quality. We show this result to be very robust. The Nigerian experience provides telling confirmation of this aspect of natural resources....
Persistent link: https://www.econbiz.de/10013233006
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An Alternative Interpretation of the 'Resource Curse' : Theory and Policy Implications
Hausmann, Ricardo; Rigobon, Roberto - 2021
The existence of a natural resource curse has been a longstanding theme in the economic literature and in policy discussions. We propose an alternative mechanism and study its policy implications. The mechanism is based on the interaction between two building blocks: specialization in...
Persistent link: https://www.econbiz.de/10013235591