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 a...
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| Format: | article |
| Language: | eng |
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2012
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| Online Access: | http://hdl.handle.net/1822/12895 |
| Country: | Portugal |
| Oai: | oai:repositorium.sdum.uminho.pt:1822/12895 |