The impending demise of petrodollar-supported capitalist Islamism, the failures of which begat 21st century terrorist Islamism, incentivizes the Muslim middle class and timocracies to find another outlet for Muslim liberation theology. This amplifies manifold the risks (and potential, but limited, benefits) of “Islamic finance.”
This working paper studies optimal taxation in a dynamic stochastic economy in which there is uncertainty about the effects of climate change. It concludes that model uncertainty has significant quantitative implications regarding optimal greenhouse gas emissions and the optimal mix of fossil fuel used.
Technological progress in the exploration and production of oil and gas during the 2000s has led to a boom in upstream investment and has increased the domestic supply of fossil fuels. It is unknown, however, how many jobs this boom has created. Using time-series methods at the national level and dynamic panel methods at the state level to understand how the increase in exploration and production activity has impacted employment, this paper finds robust statistical support for the hypothesis that changes in drilling for oil and gas as captured by rig counts do, in fact, have an economically meaningful and positive impact on employment.
Mark Agerton, Peter R. Hartley, Kenneth B. Medlock III, Ted Loch-TemzelidesAugust 22, 2014
The causes and consequences of rising oil price over the past decade have been the subject of much debate. The role of speculation in financial markets has come increasingly under the microscope, with many economists arguing that in commodity markets such as oil, inventory adjustment should prevent speculative pressures from unduly influencing price. This paper investigates whether speculative pressures can exert an influence on the price of storable commodities, such as crude oil and natural gas.
Leading U.S. immigration experts, public policy scholars and political figures debate issues and solutions to crucial questions surrounding comprehensive immigration reform.
