Optimal Oil Pricing in a Small Open Economy

Jon Harkness

Working Paper from Economics Department, Queen's University

Abstract: This paper derives the optimal response of domestic oil prices to OPEC oil-price and other shocks for a small-open economy which may be an oil producer. It is found that oil's domestic price should not be tied to world oil prices. Rather, it should be indexed to final goods prices.

Pages: 20
Date: 1983
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:525

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