Peaks, Spikes, and Barrels : Modeling Sharp Movements in Oil Prices /

Global oil markets were roiled by sharp price swings in 2008, and economists are still divided over the reasons for the unusual volatility. Those emphasizing fundamentals point to inelastic supply and demand curves, others view the phenomenon mostly as a result of financial investors flocking into c...

תיאור מלא

מידע ביבליוגרפי
מחבר ראשי: Pant, Malika
מחברים אחרים: Muhleisen, Martin, Thomas, Alun
פורמט: כתב-עת
שפה:English
יצא לאור: Washington, D.C. : International Monetary Fund, 2010.
סדרה:IMF Working Papers; Working Paper ; No. 2010/186
גישה מקוונת:Full text available on IMF
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100 1 |a Pant, Malika. 
245 1 0 |a Peaks, Spikes, and Barrels :   |b Modeling Sharp Movements in Oil Prices /  |c Malika Pant, Martin Muhleisen, Alun Thomas. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2010. 
300 |a 1 online resource (17 pages) 
490 1 |a IMF Working Papers 
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Global oil markets were roiled by sharp price swings in 2008, and economists are still divided over the reasons for the unusual volatility. Those emphasizing fundamentals point to inelastic supply and demand curves, others view the phenomenon mostly as a result of financial investors flocking into commodity markets. This paper attempts to infer the strength of these competing hypotheses, using a simultaneous equation model that enables us to undertake a separate analysis of supply and demand factors. The model broadly captures both the surge and subsequent fall in prices, with a particularly strong impact of demand factors. The model captures a strong effect of a measure for global liquidity but does not find support for a speculative motive. 
538 |a Mode of access: Internet 
700 1 |a Muhleisen, Martin. 
700 1 |a Thomas, Alun. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2010/186 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2010/186/001.2010.issue-186-en.xml  |z IMF e-Library