The Role Of Financial Speculation In Driving The Price Of Crude Oil
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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 | : Samuel P. Irvin |
| Publisher | : |
| Total Pages | : 78 |
| Release | : 1868 |
| Genre | : Speculation |
| ISBN | : |
| 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 | : Matthias Kalkuhl |
| Publisher | : Springer |
| Total Pages | : 620 |
| Release | : 2016-04-12 |
| Genre | : Business & Economics |
| ISBN | : 3319282018 |
This book provides fresh insights into concepts, methods and new research findings on the causes of excessive food price volatility. It also discusses the implications for food security and policy responses to mitigate excessive volatility. The approaches applied by the contributors range from on-the-ground surveys, to panel econometrics and innovative high-frequency time series analysis as well as computational economics methods. It offers policy analysts and decision-makers guidance on dealing with extreme volatility.
| Author | : Bassam Fattouh |
| Publisher | : |
| Total Pages | : 25 |
| Release | : 2012 |
| Genre | : Petroleum products |
| ISBN | : 9781907555442 |
| Author | : |
| Publisher | : |
| Total Pages | : 56 |
| Release | : 2006 |
| Genre | : Natural gas |
| 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 | : Jean-Paul Chavas |
| Publisher | : University of Chicago Press |
| Total Pages | : 394 |
| Release | : 2014-10-14 |
| Genre | : Business & Economics |
| ISBN | : 022612892X |
"The conference was organized by the three editors of this book and took place on August 15-16, 2012 in Seattle."--Preface.
| Author | : Bassam Fattouh |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2022 |
| Genre | : |
| ISBN | : |
