Chauvet, Marcelle; Selody, Jack G.; Laxton, Douglas; … - International Monetary Fund (IMF) - 2012
We discuss and reconcile two diametrically opposed views concerning the future of world oil production and prices. The … the fact that world oil production has plateaued since 2005 despite historically high prices, and that spare capacity has …, led to upward revisions in production forecasts based on a purely geological view. We present a nonlinear econometric …