We estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil prices for … the 1986-2009 period. All estimated structural parameters have the expected sign and are significant. We find that OPEC …-run oil prices, however, supply (depletion) factors have become more important in recent years. …

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil … standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments … indicate that world GDP is the main driver of long-run oil prices, however, supply (depletion) factors have become more …

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil … standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments … indicate that world GDP is the main driver of long-run oil prices, however, supply (depletion) factors have become more …

We estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil prices for … the 1986-2009 period. All estimated structural parameters have the expected sign and are significant. We find that OPEC …-run oil prices, however, supply (depletion) factors have become more important in recent years. …

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil … standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments … indicate that world GDP is the main driver of long-run oil prices, however, supply (depletion) factors have become more …

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil … standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments … indicate that world GDP is the main driver of long-run oil prices, however, supply (depletion) factors have become more …

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil … standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments … indicate that world GDP is the main driver of long-run oil prices, however, supply (depletion) factors have become more …

In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil … standard test levels. We find that OPEC exercised its market power during the sample period. Counterfactual experiments … indicate that world GDP is the main driver of long-run oil prices, however, supply (depletion) factors have become more …

A model of global oil production is applied to study cartelization by OPEC countries. Writing out the shadow price on … that different OPEC members to collude. We find that heterogeneity in OPEC and the supplies of the non-OPEC fringe create … strong incentives against OPEC cooperation. OPEC's optimal supply strategy although observed to be substantially more …