We study political compromise founded on tacit cooperation. Two political parties must share a fixed pie in each of an infinite sequence of periods. In each period, the party in power has ultimate authority to divide the pie. Power evolves according to a Markov process among a set of political...

The purpose of this paper is to measure the impact of the 1979 oil price "hike" on a selected group of developing countries. The model used for this exercise is an adaptation of a straightforward income-determination model in which domestic oil revenues are treated as a "tax" revenue from oil...

This paper examines alternative methods which have been used to measure aggregate energy consumption over time. It is found that many of the measures which have been widely used in empirical studies are not appropriate for economic analysis. The concept of 'useful energy', popular in engineering...