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Is The Oil Price a Determinant of Employment in Oil Intensive Romanian Communities?Abstract: Purpose: The purpose of this study is to determine the resilience of oil intensive Romanian communities to oil price fluctuations. Design/methodology/approach: The methodology employed is based on...
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The question is examined whether OPEC is in a position to collect a risk premium to effectively insure others against a macroeconomic downturn, which may, in turn, result from a rise in the price of crude oil. Contingent exchange is modeled such that parties whose consumption is elastic with...
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