Tag: Efficiency

  • Global Demand Dynamics: Determinants and Policy Issues

    By: Bassam Fattouh

    This presentation analyses some of the key relationships that are important for understanding global oil demand dynamics. It discusses the income and price determinants of oil demand as well as non-price factors such as the impact of government policies and other factors external to the oil market and which can have a drastic impact on […]

  • Efficiency of Trade Equilibria in the World Oil Market

    By: A. Khadr

    This paper formulates a trading game in a productive natural resource like oil. Though simple, the model developed here will highlight the role of binding long-term agreements and will show that in their absence equilibria are inefficient. Clifford and Crawford (1987) have recently emphasized this point in the context of trade in natural resources. A […]

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