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.
A new OIES paper on outlook of Russia’s gas productive capacity: ruble depreciation in 2015-18 helped Gazprom turn… https://t.co/BFnUnoazVe
Shrinking surplus – the outlook for Russia’s spare gas productive capacity https://t.co/25GVSHw2Qo
Rogers on Pacific Coast LNG plans and Shell’s approval to construct a $30 billion export terminal in British Columb… https://t.co/koheAUcCNa