1 option
Understanding Crude Oil Prices / James D. Hamilton.
- Format:
- Book
- Author/Creator:
- Hamilton, James D.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w14492.
- NBER working paper series no. w14492
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2008.
- Summary:
- 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 speculation, OPEC, and resource depletion. The paper concludes that although scarcity rent made a negligible contribution to the price of oil in 1997, it could now begin to play a role.
- Notes:
- Print version record
- November 2008.
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