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Keywords:Organization of Petroleum Exporting Countries 

Working Paper
OPEC’s oil exporting strategy and macroeconomic (in)stability

Aguiar-Conraria and Wen (2008) argued that dependence on foreign oil raises the likelihood of equilibrium indeterminacy (economic instability) for oil importing countries. We argue that this relation is more subtle. The endogenous choices of prices and quantities by a cartel of oil exporters, such as the OPEC, can affect the directions of the changes in the likelihood of equilibrium indeterminacy. We show that fluctuations driven by self-fulfilling expectations under oil shocks are easier to occur if the cartel sets the price of oil, but the result is reversed if the cartel sets the quantity ...
Working Papers , Paper 2011-013

Journal Article
The decline of the oil cartel

New England Economic Review , Issue Jul , Pages 32-41

Journal Article
Oil prices, exchange rates and the U.S. economy: an empirical investigation

Economic Review , Issue Fall , Pages 25-43

Journal Article
The changing pattern of U.S. trade: 1975-1985

Economic Review , Issue Oct , Pages 36-42

Journal Article
The effects of OPEC and economic policy on worldwide real interest rates

Economic Review , Issue Nov , Pages 26-41

Journal Article
Beyond recycling

FRBSF Economic Letter

Journal Article
Invest in the U.S.A.?

FRBSF Economic Letter

Journal Article
Over a barrel?

FRBSF Economic Letter

Journal Article
Another oil-price shock?

FRBSF Economic Letter

Journal Article
Crude awakening: behind the surge in oil prices

The first few months of 2008 saw crude oil prices breach one barrier after another. They topped $100 a barrel for the first time on Feb. 19, then rose past $103.76 about two weeks later, surpassing the previous inflation-adjusted peak, established in 1980. In April and early May, oil prices pushed past $110 and then $120 a barrel and beyond. ; These milestones reflect a new era in oil markets. After the tumult of the early 1980s, prices remained relatively tame for two decades - in both real and nominal terms. This long stretch of stability ended in 2004, when oil topped $40 a barrel for the ...
Economic Letter , Volume 3

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