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 …

This paper explores the connections between the shift of world saving toward OPEC and the changing structure of U … become more interdependent through trade with the newly industrializing countries (NICs) in the developing world. The shift … of world saving toward OPEC in the 1970s effectively internationalized the supply of saving, as OPEC places its surplus …

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 …

have argued that trade makes war less likely, yet World War I erupted at a time of unprecedented globalization. This paper …

can be viewed as a form of economic sanction and has two advantages over most sanctions: it helps rather than hurts the … greater incentives to judge truthfully. A similar approach could be used to reduce moral hazard associated with World Bank and …

for the U.S. and the rest of the world (ROW). We investigate the implications of a significant increase in U.S. light …