haku: @author Rutherford, T.F. / yhteensä: 4
viite: 4 / 4
« edellinen | seuraava »
| Tekijä: | Manne, A.S. Rutherford, T.F. |
| Otsikko: | A long term model of oil markets, economic growth and balance of payment constraint |
| Lehti: | Empirical Economics
1991 : VOL. 16:1, p.51-69 |
| Asiasana: | MODELS MATHEMATICAL MODELS |
| Kieli: | eng |
| Tiivistelmä: | The present paper describes a long term model of oil markets, economic growth and balance of payment constraints. The model is used to examine the role of the demand elasticity for oil in determining the OPEC's profit-maximizing output profile. Our model suggests that with intertemporal substitution and endogenous capital formation, economic optima are virtually indeterminate. This suggests considerable freedom in OPEC's strategy. |
« edellinen | seuraava »
SCIMA