Supply and Demand with Market Heterogeneity

The weekly Baker Hughes oil rig count showed a gain of 7 to 452. The Gas rigs were unchanged at 126 and Total rigs rose by 7 to 588. Versus a year ago, oil rigs are up from 422 while gas rates are up from 117. The price of crude oil today is up by…

We thank Aisha Alsayegh, Jared Fung, Tam Le, Bingbin Li, Duong Luu, Roldan Enamorado and Nguyen Hai Thanh for excellent research assistance and Mr. Nguyen Viet Phong at the General Statistics Office Vietnam and Kyle Butts, Edmund Malesky, David McKenzie, and Jeff Zabel for helpful discussions. McCaig and McMillan thank the Private Enterprise in Low-Income…

Recap – Crude surges as Saudi Arabia comes under attack and Iran blockade returns !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !“#$%&‘()*+,–./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}

We all know Meta Platforms (META 2.79%) as the ubiquitous social networking ecosystem. Investors are also familiar with its booming digital advertising platform. But there’s something else that’s moving the needle these days. As of July 16, Meta shares are up 21% this month. This stellar performance is better than all the other Magnificent Seven…

It’s not good for China, US or Europe If everything seems to be made in China these days, it’s probably because it is. China manufacturers roughly the same amount of goods as the US, Japan, and Germany combined. European consumers are currently benefitting from cheap solar panels, electric cars and electronics. But, it comes at…