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Forty years of oil price fluctuations: Why the price of oil may still surprise us
Baumeister, Christiane; Kilian, Lutz - 2015
It has been forty years since the oil crisis of 1973/74. This crisis has been one of the defining economic events of the 1970s and has shaped how many economists think about oil price shocks. In recent years, a large literature on the economic determinants of oil price fluctuations has emerged....
Persistent link: https://www.econbiz.de/10011412896
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International trade in natural resources: Practice and policy
Ruta, Michele; Venables, Anthony J. - 2012
Natural resources account for 20% of world trade, and dominate the exports of many countries. Policy is used to manipulate both international and domestic prices of resources, yet this policy is largely outside the disciplines of the WTO. The instruments used include export taxes, price...
Persistent link: https://www.econbiz.de/10010326795
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Gewinnung unkonventioneller Energieressourcen setzt OPEC künftig unter Druck
Horn, Manfred; Engerer, Hella - In: DIW Wochenbericht 80 (2013) 45, pp. 3-11
Die OPEC-Länder haben in den vergangenen Jahren stark vom steigenden Ölpreis profitiert. Die Nachfrage nach OPEC-Öl war … - abgesehen von der weltweiten Krise 2008/2009 - hoch. Dies hat auch den Zusammenhalt innerhalb der OPEC stabilisiert. Künftig … von Nicht-OPEC-Staaten an unkonventionellen Energieträgern (zum Beispiel Rohöl auf Basis von Ölsand und -schiefer, Shale …
Persistent link: https://www.econbiz.de/10010327374
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OPEC's Market Power: An Empirical Dominant Firm Model for the Oil Market
Golombek, Rolf; Irarrazabal, Alfonso A.; Ma, Lin - 2013
standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments …
Persistent link: https://www.econbiz.de/10010328808
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How do oil producers respond to oil demand shocks?
Güntner, Jochen - 2013
during 1975-2011. The goal is to disentangle fluctuations in OPEC and non-OPEC production and to derive consistent estimates … medium-run responses to a speculative demand shock differ between OPEC and non-OPEC producers, i.e., on average over the … sample period, OPEC members seem to curtail production, whereas non-OPEC supply expands significantly. Flow and speculative …
Persistent link: https://www.econbiz.de/10010368266
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Assessing the factors behind oil price changes
Dées, Stéphane; Gasteuil, Audrey; Kaufmann, Robert K.; … - 2008
expanding a model for crude oil prices to include refinery utilization rates, a non-linear effect of OPEC capacity utilization …
Persistent link: https://www.econbiz.de/10011604901
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Information processing in freight and freight forward markets: An event study on OPEC announcements
Lauenstein, Philipp; Küster Simic, André - 2016
Petroleum Exporting Countries (OPEC) output announcements is investigated. We use the event study methodology to study returns … in tanker freight spot and forward markets around OPEC conferences from 2003 to 2014. Significant abnormal returns …
Persistent link: https://www.econbiz.de/10011615940
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Dominant Capital and the New Wars
Bichler, Shimshon; Nitzan, Jonathan - In: Journal of World-Systems Research 10 (2004) 2, pp. 254-327
The recent shift from ‘global villageism’ to the ‘new wars’ revealed a deep crisis in heterodox political economy. The popular belief in neoliberal globalization, peace dividends, fiscal conservatism and sound finance that dominated the 1980s and 1990s suddenly collapsed. The early 2000s...
Persistent link: https://www.econbiz.de/10011644556
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Putting the State In Its Place: US Foreign Policy and Differential Accumulation in Middle-East “Energy Conflicts”
Bichler, Shimshon; Nitzan, Jonathan - In: Review of International Political Economy 3 (1996) 4, pp. 608-661
This is the second in a series of two articles looking into the interaction between differential capital accumulation and Middle East “energy conflicts.” Examining the historical record since the late 1960s, we find US policies to have been increasingly consistent with the coinciding...
Persistent link: https://www.econbiz.de/10011644562
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Global Accumulation and the New Middle East Wars
Bichler, Shimshon; Nitzan, Jonathan - 2002
The unravelling of the Middle-East peace process continues to baffle the pundits. The early optimism of the Oslo peace accord has now turned into despair. Prime minister Rabin was assassinated by a Jewish extremist. The Palestinians have embarked on a new Intifada. And Israel has re-occupied...
Persistent link: https://www.econbiz.de/10011644923