In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil prices for the 1986-2009 period. All the estimated structural parameters have the expected sign and are significant at standard test levels. We find that OPEC exercised its...

"This book aims to look into countries' national financial behaviors and their attributes under the modern financial system and explore several important themes regarding national finance. Different from the commonly referred to finance discipline which studies financial affairs in general,...

Large emitters reduced their carbon emissions by around 12% after the 2015 Paris Agreement (“the Agreement”) relative to public firms that are less in the limelight. We show that this effect is driven by divestments. Large emitters are 9 p.p. more likely to divest pollutive assets in the...