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Fuel Efficiency Improvements - Feedback Mechanisms and Distributional Effects in the Oil Market
Aune, Finn Roar - 2015
We study the interactions between fuel efficiency improvements in the transport sector and the oil market, where the efficiency improvements are policy-induced in certain regions of the world. We are especially interested in feedback mechanisms of fuel efficiency such as the rebound effect,...
Persistent link: https://www.econbiz.de/10013015360
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How the Tight Oil Boom Has Changed Oil and Gasoline Markets
Kilian, Lutz - 2017
allowed it to become a major exporter of gasoline and diesel fuel. Since mid-2014 the global real price of crude oil has … gasoline in global markets and in the United States? Third, what determines the investment response of the oil sector to oil …
Persistent link: https://www.econbiz.de/10012960095
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The Impact of the Shale Oil Revolution on U.S. Oil and Gasoline Prices
Kilian, Lutz - 2021
This article examines how the shale oil revolution has shaped the evolution of U.S. crude oil and gasoline prices. It … on the determination of U.S. oil and gasoline prices. It discusses the reasons for the persistent wedge between U … have not translated to lower U.S. gasoline prices. It also examines the role of shale oil in causing the 2014 oil price …
Persistent link: https://www.econbiz.de/10013315512
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Gold, Oil, and Stocks : Dynamic Correlations
Baruník, Jozef - 2015
We employ a wavelet approach and conduct a time-frequency analysis of dynamic correlations between pairs of key traded assets (gold, oil, and stocks) covering the period from 1987 to 2012. The analysis is performed on both intra-day and daily data. We show that heterogeneity in correlations...
Persistent link: https://www.econbiz.de/10013023110
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OPEC, Shale Oil, and Global Warming - On the Importance of the Order of Extraction
Benchekroun, Hassan - 2018
We show that OPEC's market power contributes to global warming by enabling producers of relatively expensive and dirty oil to start producing before OPEC reserves are depleted. We fully characterize the equilibrium of a cartel-fringe model and use a calibration to examine the importance of this...
Persistent link: https://www.econbiz.de/10012930279
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Explosive Oil Prices
Gronwald, Marc - 2021
This paper deals with three aspects of spectacular oil price episodes such as the one witnessed in 2008. First, the concept of temporary explosiveness is proposed as an empirical method for capturing this type of behavior. The application of a recently proposed recursive unit root test shows...
Persistent link: https://www.econbiz.de/10013315722
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Understanding the Decline in the Price of Oil Since June 2014
Baumeister, Christiane - 2016
Some observers have conjectured that the steep decline in the price of oil between June and December 2014 resulted from positive oil supply shocks in the second half of 2014. Others have suggested that a major shock to oil price expectations occurred when in late November 2014 OPEC announced...
Persistent link: https://www.econbiz.de/10012996804
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Forty Years of Oil Price Fluctuations : Why the Price of Oil May Still Surprise Us
Baumeister, Christiane - 2016
It has been forty years since the oil crisis of 1973/74. This crisis has been one of the defining economic events of the 1970s and has shaped how many economists think about oil price shocks. In recent years, a large literature on the economic determinants of oil price fluctuations has emerged....
Persistent link: https://www.econbiz.de/10012998728
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Time-Varying Spot and Futures Oil Price Dynamics
Caporale, Guglielmo Maria - 2013
We investigate the role of crude oil spot and futures prices in the process of price discovery by using a cost-of-carry model with an endogenous convenience yield and daily data over the period from January 1990 to December 2008. We provide evidence that futures markets play a more important...
Persistent link: https://www.econbiz.de/10013094836
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Oil Exports and the Iranian Economy
Esfahani, Hadi Salehi - 2009
This paper develops a long run growth model for a major oil exporting economy and derives conditions under which oil revenues are likely to have a lasting impact. This approach contrasts with the standard literature on the "Dutch disease" and the "resource curse", which primarily focus on short...
Persistent link: https://www.econbiz.de/10013154686