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Oil Crisis (oil + crisis)

Distribution by Scientific Domains
Business, Economics, Finance and Accounting60%

Selected Abstracts

Seeing Diplomacy through Banker's Eyes: The World Bank, the Anglo-Iranian Oil Crisis, and the Aswan High Dam

DIPLOMATIC HISTORY, Issue 3 2002
Amy L. S. Staples
[source]

THE UNEMPLOYMENT PARADIGMS REVISITED: A COMPARATIVE ANALYSIS OF U.S. STATE AND EUROPEAN UNEMPLOYMENT

CONTEMPORARY ECONOMIC POLICY, Issue 3 2009
DIEGO ROMERO-ÁVILA
This article tests the main unemployment paradigms for the unemployment rates of the states of the United States and the European Union,15 countries over the past three decades. For that purpose, we employ a state-of-the-art panel stationarity test, which allows for an unknown number of endogenous structural breaks as well as for cross-sectional correlation. Overall, our analysis renders clear-cut evidence in favor of regime-wise stationarity in U.S. state unemployment, while hysteresis in European unemployment. Interestingly, the timing of the breaks broadly coincides with major macroeconomic shocks mainly associated with the oil crises of the 1970s and marked changes in interest rates in the 1980s and early 1990s. Based on our results, we draw some policy prescriptions that point to the need for greater flexibility in the European labor markets. (JEL C23, E24) [source]

Convergence in West German Regional Unemployment Rates

GERMAN ECONOMIC REVIEW, Issue 4 2007
Christian Bayer
Stochastic convergence; unemployment; structural break; unit root Abstract. Differences in regional unemployment rates are often used to describe regional economic inequality. This paper asks whether changes in regional unemployment differences in West Germany are persistent over time. Understanding the persistency of regional unemployment differences helps us to assess how effective regional policy can be. While univariate tests suggest that changes in regional unemployment differences are persistent in West Germany, more powerful panel tests lend some support to the hypothesis that regional unemployment rates converge. However, these tests reveal a moderate speed of convergence at best. Because there is a structural break following the second oil crisis, we also use tests that allow for such a break. This provides evidence for both convergence and quick adjustment to an equilibrium distribution of regional unemployment rates that is, however, subject to a structural break. [source]

The Analysis of Seasonal Long Memory: The Case of Spanish Inflation,

OXFORD BULLETIN OF ECONOMICS & STATISTICS, Issue 6 2007
Josu Arteche
Abstract This paper describes semiparametric techniques recently proposed for the analysis of seasonal or cyclical long memory and applies them to a monthly Spanish inflation series. One of the conclusions is that this series has long memory not only at the origin but also at some but not all seasonal frequencies, suggesting that the fractional difference operator (1,L12)d should be avoided. Moreover, different persistent cycles are observed before and after the first oil crisis. Whereas the cycles seem stationary in the former period, we find evidence of a unit root after 1973, which implies that a shock has a permanent effect. Finally, it is shown how to compute the exact impulse responses and the coefficients in the autoregressive expansion of parametric seasonal long memory models. These two quantities are important to assess the impact of aleatory shocks such as those produced by a change of economic policy and for forecasting purposes, respectively. [source]

From electronic grade to solar grade silicon: chances and challenges in photovoltaics

PHYSICA STATUS SOLIDI (A) APPLICATIONS AND MATERIALS SCIENCE, Issue 15 2005
S. Pizzini
Abstract Photovoltaics is a promising but challenging opportunity for the environmentally clean production of electric energy, as the cost of the produced energy is still too high to compete with conventional thermal and nuclear sources, in spite of the scientific and technological progress occurred in this field after the first oil crisis of 1973. Among the problems which should be solved to make photovoltaics fully competitive, a breakthrough concerning the cost reduction of the base material is compulsory. Aim of this paper is to discuss the scientific and technological problems encountered in the development of solar silicon for its use in high efficiency and low cost solar cells, and to give some firm experimental evidences about its potentialities. (© 2005 WILEY-VCH Verlag GmbH & Co. KGaA, Weinheim) [source]