This paper analyzes the response of international oil producers to demand-induced changes in the real price of oil during 1975–2011. The goal is to disentangle fluctuations in OPEC and non-OPEC production and to derive consistent estimates of the short-run price elasticity of crude oil supply at the country level. I find that oil producers hardly respond to demand shocks within the same month, ...

Markups, which are when prices greater than the marginal cost of production, have increased in USA over last decades. Our paper explores differences markups between Information Technology (IT) and non-IT firms. By doing so, we contribute to understanding role IT industry increase markups. We extend De Loecker, Eeckhout, Unger (Citation2020), who find that publicly traded firms risen since 1980....

In November 2014, OPEC announced a new strategy geared towards improving its market share. Oil-market analysts interpreted this as an attempt to squeeze higher-cost producers, notably US shale oil, out of the market. Over the next year, crude oil prices crashed, with large repercussions for the global economy. We present a simple equilibrium model that explains the fundamental market factors th...

A range of energy-economy models forecast losses to members of the Organisation of Petroleum Exporting Countries (OPEC) should the Kyoto Protocol come into force. These forecasts are a powerful influence in the United Nations Framework Convention on Climate Change negotiations. They are used by OPEC to advance the agenda on the impacts of response measures, covertly arguing for compensation for...