Oil Market Developments and Issues.
The discussion in this paper of the causes and consequences of recent oil price increases, and the appropriate policy response, is framed by the volatility and uncertainty that characterize the oil market. Volatile prices arise from supply and demand that are both highly inelastic in the short run,...
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2005.
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| Series: | Policy Papers; Policy Paper ;
No. 2005/001 |
| Online Access: | Full text available on IMF |
