Oil Price Volatility and the Role of Speculation

Oil Price Volatility and the Role of Speculation
How much does speculation contribute to oil price volatility? We revisit this contentious question by estimating a sign-restricted structural vector autoregression (SVAR). First, using a simple storage model, we show that revisions to expectations regarding oil market fundamentals and the effect of mispricing in oil derivative markets can be... READ MORE...

Publication date: December 2014
ISBN 9781498333481
$18.00

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