Oil Market Developments and Issues

Nopic
The discussion in this paper of the causes and consequences of recent oil price increases, and the appropriate policy response, is framed by the volatility and uncertainty that characterize the oil market. Volatile prices arise from supply and demand that are both highly inelastic in the short run, with the result that even small shocks can have... READ MORE...

Publication date: January 2005
ISBN 9781498331777
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