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.
Trump’s Twitter an additional explanatory variable in oil price movements (4/4). https://t.co/e037HbsVvu
With global output 1.8 mb/d lower, monthly Brent would have risen only to $83.1/b reflecting the fact that most of… https://t.co/2yBc4nuTcl
OECD stocks would have still risen above their 5-yr average but the pace of stock build-up would have been slower a… https://t.co/VTrP9FbzTm