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2019-11: Presidential Amnesty and Nigerian Oil Production: A Disaggregate Econometric Analysis

During, Adegboyega and Walls, W. D.
We estimate the impact of the Presidential Amnesty Program on crude oil production in Nigeria. The President of Nigeria instituted an amnesty program in June 2009 to end the insurgency crisis in the oil producing Niger Delta. Between 2006 and 2009 it is estimated that crude oil production losses...

2019-10: Presidential Amnesty and Nigerian Oil Production: A Disaggregate Econometric Analysis

We estimate the impact of the Presidential Amnesty Program on crude oil production in Nigeria. The President of Nigeria instituted an amnesty program in June 2009 to end the insurgency crisis in the oil producing Niger Delta. Between 2006 and 2009 it is estimated that crude oil production losses...

2019-10: Environmental Regulation and Safety Outcomes: Evidence from Canadian Energy Pipelines

Walls, W. D. and Zheng, X.
This paper investigates the effects of more stringent environmental regulation—specifically, paying amortized abandonment fees as accrued and absolute liability for adverse events—on the safety performance of Canadian oil and gas pipelines. We construct a comprehensive monthly data set that...

2019-09: Volatility in the Cryptocurrency Market

Serletis, Apostolos and Liu, Jinan
How do cryptocurrency prices evolve? Is there any interdependence among cryptocur- rency returns and/or volatilities? Are there any return spillovers and volatility spillovers between the cryptocurrency market and other financial markets? To answer these questions,we use GARCH-in-mean models to...

2019-08: Consumption, Leisure, and Money

Serletis, Apostolos and Xu, Libo
This paper takes a parametric approach to demand analysis and tests the weak separa- bility assumptions that are often implicitly made in representative agent models of modern macroeconomics. The approach allows estimation and testing in a systems-of-equations con-text, using the Minflex Laurent...

2019-07: Canada-UK Free Trade: Balancing progressive trade policies and economic benefits

Beaulieu, Eugene, Dawar, Kamala and Garner-Knapp, Lindsey
The United Kingdom (UK) and Canada face uncertainty as they respectively manage relations with their largest trading partners: both the UK's withdrawal from the European Union (EU) post-Brexit and an aggressive American pivot toward a protectionist trade agenda threaten stability and economic...

2019-06: Interfuel Substitution: Evidence from the Markov Switching Minflex Laurent Demand System with BEKK Errors

Serletis, Apostolos and Xu, Libo
We investigate interfuel substitution in the United States using the minflex Laurent demand system and a century of data (from 1919 to 2012). We relax the assumption of constant parameters in the demand system, and also relax the homoskedasticity assumption, instead assuming that the covariance...

2019-05: Orphan drug pricing and costs

Hollis, Aidan
Background: A common narrative is that high prices are necessary for “orphan drugs” because of the small number of patients. In the context of state health insurance systems the high prices create significant challenges because of limited budgets. Results: This study carefully examines both...

2019-04: Asset Integration, Risk Taking and Loss Aversion in the Laboratory

Oxoby, Robert and Morrison, William G.
We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion, utilizing an asset integration protocol designed to ensure that a loss of cash provided by the experimenter is viewed as a real loss by experimental participants. Our experimental design...

2019-03: An Empirical and Qualitative Assessment of Terrorism Sentencing Decisions in Canada since 2001

Oxoby, Robert, Nesbitt, Michael and Potier, Meagan
In this paper, we take a comprehensive and multi-disciplinary look at terrorism sentencing decisions over a 17-year period, between September 2001 when the ATA was first conceived of and September 2018.

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