Alternative market structures are distinguishable by the degree of parallel action exhibited by producers. We show that the correlation between output levels varies systematically with the degree of interdependence among firms, and establish an ordering among alternative behavioral hypotheses (Cournot, Stackelberg, Edgeworth/Bertrand, collusion, and perfect competition). Because the ordering is...

While there is good reason to expect crude oil production to be non-linear, previous studies that have examined the stochastic properties of crude oil production have assumed that crude oil production follows a linear process. If crude oil production is a non-linear process, conventional unit root tests, which assume linear and systematic adjustment, could interpret departure from linearity as ...

Generally, high oil prices slow economic growth, cause inflationary pressures and creates global imbalances. In addition, oil price volatility increase uncertainty and restrain the much-needed investment in the capital market. Thus, this paper applies the Augmented Dickey Fuller and Johansen Co-integration Tests in which the effect of oil price volatility, crude oil price and stock price is ana...

This publication by Falola and Genova seeks to serve as an introduction to the global oil industry by highlighting the important aspects of the industry, and the countries, companies and people who influence oil developments. Three arguments run throughout the book, namely that oil is a complex international issue, the intricate connection between oil and politics, and that oil has brought a mi...

This paper is to study the resource curse applying annual data from 2002 to 2016 for the Organization of the Petroleum Exporting Countries (OPEC) members i.e. Algeria, Iran, Kuwait, Nigeria, Qatar, Saudi Arabia, United Arab Emirates and Venezuela. For this purpose, there were concerned the interactions role of resource abundance and institution quality, and their marginal effect of the countrie...

a r t i c l e i n f o JEL classification: F1 F4 Q43 N75 Keywords: Oil price shock Trade balance VAR Granger non-causality test Gregory-Hansen cointegration test This study aims to examine whether a large part of the variability of trade balances and their oil and non-oil components is associated with oil price fluctuations. The long-run causality running from oil price to overall, oil and non-o...

oil prices may be having a direct and indirect effect through the exchange rate on the price of agricultural commodities. in this paper, the impact of world oil prices and exchange rate shocks on prices of specific agricultural commodities including wheat, corn, soybeans and sunflowers in iran is discussed. for this purpose, vector autoregressive model with monthly data over the period 2010-199...