Energy Economics
The Recycling of Oil Revenues: Some Theoretical Aspects
Published: 1st January 1984| By: Y. Stournaras
The purpose of this paper is to investigate the stability properties of a non-titonnement price and a monetary adjustment mechanism involving two countries: one oil-exporting and one oil-importing. Its distinguishing characteristic is that it brings together some elements of the theory of exhaustible resources and the modern balance-of-payments theory using a Bicksian, temporary equilibrium framework.
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On Oil Price Concepts
Published: 1st January 1984| By: Robert Mabro
What do people mean when they refer to the ‘world price of crude oil”? What do they really mean when they state that the price of oil has risen” or that “it has come down”? There are many different concepts of the price of oil, a term which can be deceptive in its apparent simplicity.
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Who Makes the Oil Price? An Analysis of Oil Price Movements 1978-82
Published: 1st January 1982| By: S. Roberts
A study of o i l developments during ’1978-82 may provide some important insights into the operation of the pricing mechanism for petroleum in international trade. First of all, this period enables us to study the behaviour of oil producers in both arising and a falling market. In 1979/80 excess demand pushed prices up more [...]
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