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The Predictive Content of Energy Futures : An Update on Petroleum, Natural Gas, Heating Oil and Gasoline

Chinn, Menzie D. - 2005

This paper examines the relationship between spot and futures prices for energy commodities (crude oil, gasoline …

Persistent link: https://www.econbiz.de/10012467654

Pandemic, War, Inflation : Oil Markets at a Crossroads?

Baumeister, Christiane - National Bureau of Economic Research - 2023

The COVID-19 pandemic as well as the Russian invasion of Ukraine have had profound effects on the global energy landscape, with some of the longer-lasting effects still unfolding. This paper discusses how these events have reshaped the supply side of the global oil market by focusing on...

Persistent link: https://www.econbiz.de/10014322883

Sticky Prices, Inventories, and Market Power in Wholesale Gasoline Markets

Borenstein, Severin - 1996

We present and test an explanation for lags in the adjustment of wholesale gasoline prices to changes in crude oil … model predicts that futures prices for gasoline will adjust incompletely to crude oil price shocks occurring close to the … prices in 188 local wholesale gasoline markets and find evidence that greater market power leads to slower output price …

Persistent link: https://www.econbiz.de/10012473395

Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?

Borenstein, Severin - 1992

Our empirical investigation confirms the common belief that retail gasoline prices react more quickly to increases in … competitive spot market for gasoline, perhaps reflecting inventory costs. Wholesale gasoline prices, however, exhibit no asymmetry … this probably reflects short run market power among retail gasoline sellers …

Persistent link: https://www.econbiz.de/10012474832

World Equilibrium with Oil Price Increases : An Intertemporal Analysis

Marion, Nancy Peregrim - 1983

This paper examines the effect of OPEC price increases on the welfare of a group of oil-importing industrial countries. It also studies how taxes or subsidies on oil imports or capital flows could alter the group's welfare. The analysis is conducted using a general-equilibrium model that...

Persistent link: https://www.econbiz.de/10012478029

Adjustment to Expected and Unexpected Oil Price Changes

Marion, Nancy Peregrim - 1982

For oil importers, differences in economic performance after the 1973-74 oil price increase and after the 1979-80 increase can be attributed to a number of factors, including the fact that the 1973-74 oil price increase was unexpected whereas the 1979-80 increase was largely expected. In this...

Persistent link: https://www.econbiz.de/10012478107

Historical Oil Shocks

Hamilton, James D. - 2011

This paper surveys the history of the oil industry with a particular focus on the events associated with significant changes in the price of oil. Although oil was used much differently and was substantially less important economically in the nineteenth century than it is today, there are...

Persistent link: https://www.econbiz.de/10012461867

Pass-Through of Oil Prices to Japanese Domestic Prices

Shioji, Etsuro - 2010

In this paper, we investigate changes in the impacts of world crude oil prices on domestic prices in Japan. First, we employ a time-varying parameter VAR (TVP-VAR) approach to confirm that the rate of pass-through of oil prices declined, both at the aggregate and sectoral levels, for the period...

Persistent link: https://www.econbiz.de/10012462762

Understanding Crude Oil Prices

Hamilton, James D. - 2008

This paper examines the factors responsible for changes in crude oil prices. The paper reviews the statistical behavior of oil prices, relates these to the predictions of theory, and looks in detail at key features of petroleum demand and supply. Topics discussed include the role of commodity...

Persistent link: https://www.econbiz.de/10012464155

Lags, Costs, and Shocks : An Equilibrium Model of the Oil Industry

Bornstein, Gideon - 2017

We use a new micro data set to estimate a stochastic industry-equilibrium model of the oil industry. This effort is a first step towards studying the importance of ongoing structural changes in the oil market in a general-equilibrium model of the world economy. We analyze the impact of the...

Persistent link: https://www.econbiz.de/10012455258

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