, from 1970 to 2014, to quantify the extent of productive misallocation attributable to market power exerted by the OPEC. We …This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency …-cost production units, conditional on a fixed aggregate quantity. We rely on rich micro-data covering the global market for crude oil …

, from 1970 to 2014, to quantify the extent of productive misallocation attributable to market power exerted by the OPEC. We …This paper estimates the extent to which market power is a source of production misallocation. Productive inefficiency …-cost production units, conditional on a fixed aggregate quantity. We rely on rich micro-data covering the global market for crude oil …

This paper estimates a dynamic model of the world oil market and tests whether OPEC countries colluded and whether non-OPEC … colluding as the dominant cartel producer and non-OPEC countries behaving as an oligopolistic fringe. The residual demand … countries behaved oligopolistically over the period 1970-2004. Results of the analysis by decade support OPEC countries …