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Dynamic modelling and testing of OPEC behaviour

Subtitle:
OIES paper: EE11
Abstract:

Although conventional wisdom suggests that OPEC is a cartel, many studies since 1973 have focused on other underlying forces to explain and forecast OPEC behaviour. Economic theory suggests that natural resource producers should dynamically optimize, and a variety of studies have relied on dynamic optimization. Hence, we build a model consistent with dynamic optimization and jointly test dynamic optimization with other hypotheses prevalent in the literature. We use econometric analysis of qua...

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Publication status:
Published
Peer review status:
Reviewed (other)
Version:
Publisher's version

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Institution:
University of Oxford
Research group:
Oxford Institute for Energy Studies
More by this author
Institution:
University of Oxford
Research group:
Oxford Institute for Energy Studies
Publisher:
Oxford Institute for Energy Studies Publisher's website
Publication date:
1990
URN:
uuid:d83c96eb-5c1e-4da0-8581-3ad0d1d3c912
Local pid:
ora:10252
ISBN:
0-948061-36-7

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