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How do unanticipated discoveries of oil fields affect the oil price?
Leinert, Lisa - 2010
The Hotelling rule argues that the price for a nonrenewable resource adjusts to the shadow value of the resource, reflecting the remaining availability of the resource. We empirically test the Hotelling rule on the effect of unanticipated oil field discoveries. We do not find evidence for a...
Persistent link: https://www.econbiz.de/10011753204
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Does the Oil Price Adjust Optimally to Oil Field Discoveries?
Leinert, Lisa - 2012
The Hotelling rule argues that the price for a non-renewable resource adjusts to the shadow value of the resource, reflecting its remaining availability. This study provides an empirical test of this hypothesis. It investigates whether the price of crude oil does adjust to unexpected news about...
Persistent link: https://www.econbiz.de/10011753233
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Understanding the economic consequences of shifting trends in population health
Michaud, Pierre-Carl; Goldman, Dana; Lakdawalla, Darius; … - 2009
government expenditures (including Social Security and income assistance). Together, the reduction in smoking and the rise in …
Persistent link: https://www.econbiz.de/10010269708
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An economic model of oil reserves additions: Application to US data
Farzin, Yeganeh Hossein - 1998
Departing from Hotelling's assumption of fixed and known reserves, in this paper I develop an economic model of additions to proven reserves that explicitly incorporates the effects of expected resource price, cumulative reserves development, and technological progress on reserves additions. The...
Persistent link: https://www.econbiz.de/10011608464
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The outlook for the global supply of oil: Running on faith?
Gervais, Olivier; Kolet, Ilan - 2009
The dramatic reduction in global demand, and the decline in the spot price of crude oil in the second half of last year, may have significant implications for the future supply of oil. Investments in conventional methods of extraction have been constrained, since easily accessible oil reserves...
Persistent link: https://www.econbiz.de/10010289700
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Oil stock discovery and Dutch Disease
Hartwick, John; Hamilton, Kirk - 2009
We set out a model of a two-good, small open economy exporting a traditional exportable in order to finance capital goods rental payments. We observe that the traditional export sector declines with an exogenous increase in the country's oil export earnings, while the local goods sector expands....
Persistent link: https://www.econbiz.de/10010290368
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Oil stock discovery and Dutch disease
Hamilton, Kirk; Hartwick, John - 2008
We set out a model of a small open economy exporting oil and a traditional exportable in return for produced capital. The small open economy also has local production of a non-traded good. We first observe that the size of the traditional export sector declines with an exogenous increase in the...
Persistent link: https://www.econbiz.de/10010290398
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International Partnerships, Foreign Control and Income Levels: Theory and Evidence
Brunnschweiler, Christa N.; Valente, Simone - 2011
We analyze the effects of different regimes of control rights over critical resources on the total domestic income of … foreign control is never optimal, and assigning complete residual rights to foreign ?firms reduces domestic income. Two … testable predictions are derived. First, international partnerships tend to generate higher domestic income than foreign …
Persistent link: https://www.econbiz.de/10011753218
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The Effectiveness of Health Screening
Hackl, Franz; Halla, Martin; Hummer, Michael; Pruckner, … - 2012
Using a matched insurant-general practitioner panel data set, we estimated the effect of a general health-screening program on individuals' health status and health care cost. To account for selection into treatment, we used regional variations in the intensity of exposure to supply-determined...
Persistent link: https://www.econbiz.de/10010294861
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The rise in obesity across the Atlantic: an economic perspective
Brunello, Giorgio; Michaud, Pierre-Carl; … - 2008
We provide comparable evidence on the patterns and trends in obesity across the Atlantic and analyse whether there are economic rationales for public intervention to control obesity. We take into account equity issues as well as efficiency considerations, which are organized around three...
Persistent link: https://www.econbiz.de/10010268706