## The Recycling of Oil Revenues: Some Theoretical Aspects |

### What people are saying - Write a review

We haven't found any reviews in the usual places.

### Common terms and phrases

adjustment process assumption clear instantaneously consumption commodity current oil price demand for oil demand function differential equations Energy Studies equation 15 equilibrium condition equilibrium is stable ex-ante excess oil demand excess oil supply exhaustible resources expected oil price following an increase forward markets future oil price Heal Hence Heuvel Hicksian homogeneous function ibrium implicit function theorem implies income effect Institute for Energy intertemporal structure line p=p market equilibrium markets are open money market Non-instantaneous OECD oil exporting oil revenues oil supply E<0 OPEC OPEC's consumption OPEC's demand OPEC's trade surplus OPECs trade owner of oil Oxford Institute p=0 locus pair p=aE paper partial derivatives phase diagram postulate price elastic problem rational expectations recycling of oil regime of excess regime stability second period spot markets stability properties stationary point Stournaras sufficient condition tatonnement temporary equilibrium framework theory of exhaustible variables wealth effects