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Journal Article
Invest in the U.S.A.?
Journal Article
Beyond recycling
Journal Article
The changing pattern of U.S. trade: 1975-1985
Journal Article
The decline of the oil cartel
Journal Article
OPEC after 20 years
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 ...
Journal Article
Five-percent solution
Journal Article
Food for crude