On the Sources and Consequences of Oil Price Shocks: the Role of Storage

WP/12/270

Nopic
Building on recent work on the role of speculation and inventories in oil markets, we embed a competitive oil storage model within a DSGE model of the U.S. economy. This enables us to formally analyze the impact of a (speculative) storage demand shock and to assess how the effects of various demand and supply shocks change in the presence of oil... READ MORE...

Publication date: November 2012
ISBN 9781475586367
$18.00

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Publication date: November 2012

English