Fundamentals Speculation And The Pricing Of Crude Oil Futures
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| Author | : Samya Beidas-Strom |
| Publisher | : International Monetary Fund |
| Total Pages | : 34 |
| Release | : 2014-12-12 |
| Genre | : Business & Economics |
| ISBN | : 1498333486 |
How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be observationally equivalent in a SVAR model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and inventories. Second, we impose additional restrictions on the set of admissible models embodying the assumption that the impact from noise trading shocks in oil derivative markets is temporary. Our additional restrictions effectively put a bound on the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short-run impact is smaller than that of flow demand shocks but possibly larger than that of flow supply shocks.
| Author | : Bassam Fattouh |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : |
| ISBN | : |
| Author | : Samuel P. Irvin |
| Publisher | : |
| Total Pages | : 78 |
| Release | : 1868 |
| Genre | : Speculation |
| ISBN | : |
| Author | : Craig Pirrong |
| Publisher | : Cambridge University Press |
| Total Pages | : 239 |
| Release | : 2011-10-31 |
| Genre | : Business & Economics |
| ISBN | : 1139501976 |
Commodities have become an important component of many investors' portfolios and the focus of much political controversy over the past decade. This book utilizes structural models to provide a better understanding of how commodities' prices behave and what drives them. It exploits differences across commodities and examines a variety of predictions of the models to identify where they work and where they fail. The findings of the analysis are useful to scholars, traders and policy makers who want to better understand often puzzling - and extreme - movements in the prices of commodities from aluminium to oil to soybeans to zinc.
| Author | : Basil Oberholzer |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 389 |
| Release | : 2017-07-28 |
| Genre | : Business & Economics |
| ISBN | : 1786437899 |
The global crude oil market is critically important in many respects. It is the fuel that drives the global economy and, as such, is the focus of climate policies. Moreover, crude oil is the basis of a tradable financial asset. It is therefore connected to several outstanding macroeconomic developments of recent years, including financial market fluctuations, the financial crisis and the exceptional conduct of monetary policy. This book investigates the impacts of monetary policy and the financial system on the global crude oil market. Furthermore, it outlines how monetary policy may also be used to guarantee stability and to contribute to ecological sustainability.
| Author | : Mr.Aasim M. Husain |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2015-07-14 |
| Genre | : Business & Economics |
| ISBN | : 151357227X |
The sharp drop in oil prices is one of the most important global economic developments over the past year. The SDN finds that (i) supply factors have played a somewhat larger role than demand factors in driving the oil price drop, (ii) a substantial part of the price decline is expected to persist into the medium term, although there is large uncertainty, (iii) lower oil prices will support global growth, (iv) the sharp oil price drop could still trigger financial strains, and (v) policy responses should depend on the terms-of-trade impact, fiscal and external vulnerabilities, and domestic cyclical position.
| Author | : Bassam Fattouh |
| Publisher | : |
| Total Pages | : 25 |
| Release | : 2012 |
| Genre | : Petroleum products |
| ISBN | : 9781907555442 |
| Author | : Alan Greenspan |
| Publisher | : Penguin |
| Total Pages | : 612 |
| Release | : 2008-09-09 |
| Genre | : Biography & Autobiography |
| ISBN | : 9780143114161 |
From the bestselling author of The Map and the Territory and Capitalism in America The Age Of Turbulence is Alan Greenspan’s incomparable reckoning with the contemporary financial world, channeled through his own experiences working in the command room of the global economy longer and with greater effect than any other single living figure. Following the arc of his remarkable life’s journey through his more than eighteen-year tenure as chairman of the Federal Reserve Board to the present, in the second half of The Age of Turbulence Dr. Greenspan embarks on a magnificent tour d’horizon of the global economy. The distillation of a life’s worth of wisdom and insight into an elegant expression of a coherent worldview, The Age of Turbulence will stand as Alan Greenspan’s personal and intellectual legacy.
| Author | : Takatoshi Ito |
| Publisher | : University of Chicago Press |
| Total Pages | : 346 |
| Release | : 2011-03 |
| Genre | : Business & Economics |
| ISBN | : 0226386899 |
Fluctuations of commodity prices, most notably of oil, capture considerable attention and have been tied to important economic effects. This book advances our understanding of the consequences of these fluctuations, providing both general analysis and a particular focus on the countries of the Pacific Rim.
| Author | : |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 2006 |
| Genre | : Natural gas |
| ISBN | : |
