Øystein Foros, Mai Nguyen-Ones, Frode Steen, 11 October 2018

Many markets exhibit saw-tooth pricing, with retailers regularly cutting and restoring prices. The column uses the discounting pattern of Norwegian gas stations, which uniformly raise prices on two days a week, to show the effect on consumer behaviour and firm profits. When more consumers spend effort on when to buy rather than where to buy, competition softens.

Lutz Kilian, 14 January 2015

The recent expansion of US shale oil production has captured the imagination of policymakers and industry analysts. It has fuelled visions of the US becoming independent of oil imports, of cheap US gasoline, of a rebirth of US manufacturing, and of net oil exports improving the US current account. This column asks how plausible these visions are, and examines the evidence to date.

Lutz Kilian, 13 November 2007

In Discussion Paper 6559 Research Fellow Lutz Killian dispels a number of myths concerning oil price shocks and their impact on the US economy. What is the origin of oil price shocks? Most oil price shocks since the 1970s have been driven by a combination of strong global demand for industrial commodities (including crude oil) and expectations shifts that increase precautionary demand for crude oil specifically.

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