Download the fantastic book titled Oil Price Volatility and the Role of Speculation written by Samya Beidas-Strom, available in its entirety in both PDF and EPUB formats for online reading. This page includes a concise summary, a preview of the book cover, and detailed information about "Oil Price Volatility and the Role of Speculation", which was released on 12 December 2014. We suggest perusing the summary before initiating your download. This book is a top selection for enthusiasts of the Business & Economics genre.
Summary of Oil Price Volatility and the Role of Speculation by Samya Beidas-Strom PDF
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 observationally equivalent in a SVAR model of the world oil market à la Kilian and Murphy (2013), since both imply a positive co-movement of oil prices and inventories. Second, we impose additional restrictions on the set of admissible models embodying the assumption that the impact from noise trading shocks in oil derivative markets is temporary. Our additional restrictions effectively put a bound on the contribution of speculation to short-term oil price volatility (lying between 3 and 22 percent). This estimated short-run impact is smaller than that of flow demand shocks but possibly larger than that of flow supply shocks.
Detail About Oil Price Volatility and the Role of Speculation PDF
- Author : Samya Beidas-Strom
- Publisher : International Monetary Fund
- Genre : Business & Economics
- Total Pages : 34 pages
- ISBN : 1498333486
- Release Date : 12 December 2014
- PDF File Size : 35,6 Mb
- Language : English
- Rating : 4/5 from 21 reviews
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