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Preface Introduction OPEC and Non-OPEC Supplier Experience Falling Oil Prices and Exchange Rate Fluctuation by Se-Hark Park A Theoretical Framework for Macroeconomic Modeling of OPEC Members by Siamack Shojai OPEC Strategies for the Monopoly Oil Profits by Yousaf Hasan J. Mohammad The Mexican Experience by Eric G. Davis Fiscal Stress in Saudi Arabia: Budgetary Adjustments in an Era of Declining Oil Revenues by Robert E. Looney The Oil Importers' Adjustment and Response Oil in the 1980s: An OECD Perspective by Edward T. Dowling and Francis G. Hilton Petroleum Prices and Economic Performance in the G-7 Countries by Dominick Salvatore World Oil Prices and Macroeconomic Activity in the OECD by Greg A. Winczewski The U.S. Oil Industry Response by Margaret A. Walls and Andrew S. Jones Changes in World Oil Prices, 1980-1988: A General Equilibrium Perspective by Roy Boyd, Radjindar K. Koshal, and Noel D. Uri Oil Prices and the LDC's Third World Debt and Oil Prices by Hamid Zangeneh Changing Terms of Trade and the LDCs by Abbas Pourgerami OPEC Aid to Less-Developed Countries by Ira N. Gang The Learning Curve Predicting the Price of Oil by Naci H. Mocan and Ahmet E. Kocagil Futures Market for Crude Oil by Kamran M. Dadkhah Measuring the Effects of Changing Oil Prices by Anthony E. Bopp and George M. Lady Select Bibliography Index
This contributed volume examines the far-reaching effects of the weakening of OPEC's cohesion and influence in the 1980s, the decline of resulting oil price and the accompanying economic reversals. These events resulted in both fortune and misfortune for oil users and producers and dramatically changed energy economics worldwide.
SIAMACK SHOJAI is Associate Professor of Economics and Chair, Department of Economics and Finance, Manhattan College. His published work has appeared in The Journal of Energy and Economics, and the Journal of Economic Development, among others. BERNARD S. KATZ is Associate Professor of Economics and Business at Lafayette College in Pennsylvania.