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calibrating and simulating a cartel-fringe model of the global oil market. While welfare net of climate damage under the cartel …
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oil to start producing before OPEC reserves are depleted. We fully characterize the equilibrium of a cartel-fringe model … and use a calibration to examine the importance of this extraction sequence effect. While welfare under the cartel …
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oil to start producing before OPEC reserves are depleted. We fully characterize the equilibrium of a cartel-fringe model … and use a calibration to examine the importance of this extraction sequence effect. While welfare under the cartel …
Persistent link: https://www.econbiz.de/10011754208