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The U.S. Shale Oil Boom, the Oil Export Ban, and the Economy : A General Equilibrium Analysis

Melek, Nida Çakir - 2017

This paper examines the effects of the U.S. shale oil boom in a two-country DSGE model where countries produce crude oil, refined oil products, and a non-oil good. The model incorporates different types of crude oil that are imperfect substitutes for each other as inputs into the refining...

Persistent link: https://www.econbiz.de/10012453893

The OPEC Surplus and U.S.-LDC Trade

Branson, William H. - 1981

This paper explores the connections between the shift of world saving toward OPEC and the changing structure of U.S. trade with the non-oil developing countries. The basic point of the paper is that during the 1970s the U.S. economy has become more interdependent through trade with the newly...

Persistent link: https://www.econbiz.de/10012478322

Did Iraq Cheat the United Nations? Underpricing, Bribes, and the Oil for Food Program

Hsieh, Chang-Tai - 2005

From 1997 through early 2003, the United Nations Oil for Food Program allowed Iraq to export oil in exchange for humanitarian supplies. We measure the extent to which this program was corrupted by Iraq's attempts to deliberately set the price of its oil below market prices in an effort to...

Persistent link: https://www.econbiz.de/10012467483

The Predictive Content of Energy Futures : An Update on Petroleum, Natural Gas, Heating Oil and Gasoline

Chinn, Menzie D. - 2005

This paper examines the relationship between spot and futures prices for energy commodities (crude oil, gasoline, heating oil markets and natural gas). In particular, we examine whether futures prices are (1) an unbiased and/or (2) accurate predictor of subsequent spot prices. We find that while...

Persistent link: https://www.econbiz.de/10012467654

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 …, as well as about potential pitfalls. Turning Mexico's retail petroleum sector into a competitive market will not be easy …

Persistent link: https://www.econbiz.de/10012453169

Lags, Costs, and Shocks : An Equilibrium Model of the Oil Industry

Bornstein, Gideon - 2017

We use a new micro data set to estimate a stochastic industry-equilibrium model of the oil industry. This effort is a first step towards studying the importance of ongoing structural changes in the oil market in a general-equilibrium model of the world economy. We analyze the impact of the...

Persistent link: https://www.econbiz.de/10012455258

Sovereign Wealth Funds : Stylized Facts about their Determinants and Governance

Aizenman, Joshua - 2008

This paper presents statistical analysis supporting stylized facts about sovereign wealth funds (SWFs). It discusses the forces leading to the growth of SWFs, including the role of fuel exports and ongoing current account surpluses, and large hoarding of international reserves. It analyzes the...

Persistent link: https://www.econbiz.de/10012464086

Unspanned Stochastic Volatility and the Pricing of Commodity Derivatives

Trolle, Anders B. - 2006

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/10012465916

An Elephant in the Garden : The Allies, Spain, and Oil in World War II

Caruana, Leonard - 2006

and other petroleum products, which we describe in the text and report in the appendix. These estimates allow us to draw a …

Persistent link: https://www.econbiz.de/10012466440

Addressing the Natural Resource Curse : An Illustration from Nigeria

Sala-i-Martin, Xavier - 2003

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/10012468894

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