the world economy. We analyze the impact of the advent of fracking on the volatility of oil prices. Our model predicts a …

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 …

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 …

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

incentives. In particular, I make a rough calculation of the impact of tax incentives for domestic oil production on world oil … supply and prices and find that the incentives for domestic production have negligible impact on world supply or prices … despite the United States being the third largest oil producing country in the world. Finally, I present results from a model …

, the real price of oil has tended to be highly persistent and volatile whenever rapid industrialization in a major world …

reduce taxes on labor income, showing that such a policy could increase world productive capacity while being consistent with …