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The net oil price increase is one of the most popular models used to study the relationship between changes in the price of oil and macroeconomic activity. The model postulates that an increase in the price of oil has negative consequences for the economy if the new price exceeds the maximum price o...
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The Pacific Island Countries including the Fiji Islands are heavily dependent on imported petroleum fuels for their energy needs. This is a major cause of environmental vulnerability as well as economic vulnerability due to high and volatile crude oil prices. A combination of Demand Side Management ...
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It is well known that parameter estimates obtained from ordinary least squares can be distorted by outliers. Given the dramatic fluctuations observed in the price of crude oil, it is surprising that the robustness of parameter estimates has not been scrutinized more closely. This article investigate...
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Both the Theory of Storage and the Hotelling model play a prominent role in the study of non-renewable resource prices. This paper combines these approaches by modifying the Hotelling model to allow firms to hold inventory in addition to in-ground reserves, contributing three new results. First, inv...
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Given the tremendous volatility of commodity prices, models used to test the efficiency of futures markets often contain unstable parameter estimates. This instability may cause the results of hypothesis tests to become sensitive to the sample period. As a result, tests based on constant parameter s...
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The WTO inspired strengthening of intellectual property rights (IPRs) in developing countries remains highly controversial even 15 years after the 1994 TRIPs agreement. This paper employs both theory and empirics to assess how a strengthening of IPRs affects international technology diffusion by alt...
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Despite over 20 years of debate, the TRIPs agreement remains very contentious. This paper evaluates the impact of tightening intellectual property rights (IPRs) in developing countries on developed countries' exports over the 1962-2000 period. Colonial origin is used to isolate exogenous variation i...
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Rev. of Economy and morality: the philosophy of the welfare state, by Yuichi Shionaya
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Rev. of Marginal man: the dark vision of Harold Innis, by A.J. Watson. EH.Net Economic History Services
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The question addressed is, have we achieved what Veblen called "evolutionary social science", that is, a systematic account of socioeconomic change? Taking account of different meanings of "systematic" and observing some of scientific systems that have held place in the history of Economics, the aut...
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