منابع مشابه
Cartelization in gas markets: Studying the potential for a “Gas OPEC”☆
a r t i c l e i n f o Natural gas is increasingly important as a fuel for electric power generation as well as other uses due to its environmental advantage over other fossil fuels. Using the World Gas Model, a large-scale energy equilibrium system based on a complementarity formulation, this paper analyzes possible future gas cartels and their effects on gas markets in a number of regions acro...
متن کاملCartelization of Cross-Holdings∗
Cross-holdings between firms cause their profits to be mutually dependent. This paper analyzes a model of cross-holdings that calls for the firms to consider financial interests of the competitors in their profits instead of operating earnings. It is shown that cross-holdings induce tacit formation of cartels when they are irreducible. Consequently, the irreducibility of cross-holdings should b...
متن کاملAn Empirical Dynamic Model of OPEC and Non-OPEC
This paper estimates a dynamic model of the world oil market and tests whether OPEC countries colluded and whether non-OPEC countries behaved oligopolistically over the period 1970-2004. The model generates estimates of the shadow price of the resource with minimal functional form assumptions. Results support oligopolistic behavior among non-OPEC producers and collusion among OPEC producers exc...
متن کاملDeterminants of OPEC production: Implications for OPEC behavior
We estimate models that identify the economic and organizational determinants of crude oil production by individual OPEC nations. To clarify the interpretation of econometric results, we model production with specifications that resolve the statistical ordering of variables and estimate models with techniques that can cope with stochastic trends in the time series. We also analyze the short-run...
متن کاملThe political economy of OPEC
Building on the political economy literature, we develop a conceptual model and apply it to explain the OPEC pricing behavior. We model OPEC as a cartel-of-nations where politician use two instruments: production quotas and domestic fuel consumption subsidies. Our model explains the wedge between domestic fuel prices in OPEC countries and in the rest of the world. The empirical estimates show t...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Energy Economics
سال: 2016
ISSN: 0140-9883
DOI: 10.1016/j.eneco.2016.10.010