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.
OPEC Cycles and Crude Oil Market Dynamics https://t.co/pPZC2FIpWz
A new OIES paper proposes a new model for electricity market design: the insurer-of-last-resort model intended to p… https://t.co/DCUxMNAPCV
Decarbonized Market Design: An Insurance Overlay on Energy-Only Electricity Markets https://t.co/5ABluITTPn