This paper develops a competitive theory of the recent history of the oil market. We show that the supply curve for oil is backward bending, and that the presence of multiple equilibria explains better than cartel theories the behavior of the principal participants in this market. We study some...

This paper is an empirical investigation of inequality of education opportunities in the Middle East and North Africa (MENA). We use student scores from tests administered by the international consortium Trends in Mathematics and Science Study (TIMSS) for a number of MENA countries and over time...

The Islamic Revolution of 1979, the 8-year war with Iraq (1980–88), and the collapse of oil prices in 1986 dealt huge blows to Iran’s economy. In this article, we use a pseudopanel constructed from annual multiple surveys during 1984–2004 to analyze changes in cohort earnings and...

The increased emphasis on the role of human capital in economic growth has raised the level of interest in its mechanism of accumulation. Countries differ in the efficiency with which they teach their young, as they do in their savings and investment behavior. The recent household economics...

Like most other petroleum-exporting countries, Iran subsidizes domestic consumption of refined products. Real product prices have declined for the past 25 years while the rest of the world has adjusted to higher energy prices. In this paper I describe the market for petroleum products in Iran...

No abstract received.