Input transactions in the petrochemical industry are often subject to temporal specificity. That is, non-performance in quantity, such as delaying delivery, is highly costly to producers and can be an effective holdup strategy. In the 1970s, two oil price shocks induced high price volatility in...

We examine the predictive ability of economic policy uncertainty on stock returns of selected OPEC countries. In order to deal with certain statistical properties of the predictors, which include serial correlation, persistence, conditional heteroskedasticity, and endogeneity effects, wse...