In a simplified theoretical framework we model the strategic interactions between OPEC and non-OPEC producers and the implications for the global oil market. Depending on market conditions, OPEC may find it optimal to act either as a monopolist on the residual demand curve, to move supply...

In a simplied theoretical framework, we model the strategic interactions between OPEC and non-OPEC producers and the implications for the global oil market. Depending on market conditions, OPEC may find it optimal to act either as a monopolist on the residual demand curve, to move supply...

In a simplified theoretical framework we model the strategic interactions between OPEC and non-OPEC producers and the implications for the global oil market. Depending on market conditions, OPEC may find it optimal to act either as a monopolist on the residual demand curve, to move supply...

En un marco teórico simplificado, modelizamos las interacciones estratégicas entre los productores de la OPEP y los no pertenecientes a la OPEP y sus implicaciones para el mercado global de petróleo. Dependiendo de las condiciones del mercado, la OPEP puede considerar óptimo actuar como...

This article analyzes the impact of the unconventional monetary policies (UMPs) of four major central banks (the Fed, ECB, BoE and BOJ) on market uncertainty. We exploit the heterogeneity of different UMP actions to disentangle their influence on reducing the ex ante perception of extreme events...

This paper empirically analyzes the role of institutional factors in shaping the dynamics of gross capital flows. We build an institutional quality index and test its relevance for both gross capital inflows and outflows using a panel of 56 countries, differentiating between high-income and...

This paper presents a tool to detect the accumulation of risks in emerging market economies based on a synthetic index of “vulnerability” for three different types of crisis (sovereign, currency and banking crises). To build the index we first use a signalling approach (Auroc) to preselect...