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On the Sources of Oil Price Fluctuations

On the Sources of Oil Price Fluctuations »

Source: On the Sources of Oil Price Fluctuations

Volume/Issue: 2009/285

Series: IMF Working Papers

Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

ISBN: 9781451874303

Keywords: Oil Price Fluctuations, Oil Demand and Oil Supply Shocks, Precautionary Demand Shock, Small Open Economy, DSGE Models, oil supply, oil demand, oil market, aggregate demand,

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggreg...

On the Sources and Consequences of Oil Price Shocks

On the Sources and Consequences of Oil Price Shocks »

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

Volume/Issue: 2012/270

Series: IMF Working Papers

Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2012

ISBN: 9781475586367

Keywords: oil storage, oil price fluctuations, oil demand, oil supply shocks speculative oil demand, sticky-price DSGE model, inflation, price fluctuations, oil prices, nominal interest rate, oil demand and oil supply shocks speculative oil demand,

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...

Optimal Oil Production and the World Supply of Oil

Optimal Oil Production and the World Supply of Oil »

Source: Optimal Oil Production and the World Supply of Oil

Volume/Issue: 2012/294

Series: IMF Working Papers

Author(s): Nikolay Aleksandrov , lajos Gyurko , and Raphael Espinoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

ISBN: 9781616354831

Keywords: Real Options, Capacity Expansion, Equilibrium Price of Oil, oil revenues, oil prices, world supply, oil fields, General, Energy and the Macroeconomy,

We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss th...

A Barrel of Oil or a Bottle of Wine

A Barrel of Oil or a Bottle of Wine »

Source: A Barrel of Oil or a Bottle of Wine : How Do Global Growth Dynamics Affect Commodity Prices?

Volume/Issue: 2011/1

Series: IMF Working Papers

Author(s): Tahsin Saadi Sedik , and Serhan Cevik

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 January 2011

ISBN: 9781455211791

Keywords: Wine, Comovement, Global growth, Emerging economies, crude oil, oil demand, Nonrenewable Resources and Conservation: Other, Energy: Demand and Supply, Energy and the Macroeconomy,

This paper investigates the causes of extreme fluctuations in commodity prices from 1990 to 2010. Analyzing two very distinct commodities-crude oil and fine wine, we find that macroeconomic factors are the main det...

On the Sources of Oil Price Fluctuations

On the Sources of Oil Price Fluctuations »

Volume/Issue: 2009/285

Series: IMF Working Papers

Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 December 2009

DOI: http://dx.doi.org/10.5089/9781451874303.001

ISBN: 9781451874303

Keywords: Oil Price Fluctuations, Oil Demand and Oil Supply Shocks, Precautionary Demand Shock, Small Open Economy, DSGE Models, oil supply, oil demand, oil market, aggregate demand,

Analyzing macroeconomic impacts of oil price changes requires first to investigate different sources of these changes and their distinct effects. Kilian (2009) analyzes the effects of an oil supply shock, an aggreg...

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

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

Volume/Issue: 2012/270

Series: IMF Working Papers

Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 08 November 2012

DOI: http://dx.doi.org/10.5089/9781475586367.001

ISBN: 9781475586367

Keywords: oil storage, oil price fluctuations, oil demand, oil supply shocks speculative oil demand, sticky-price DSGE model, inflation, price fluctuations, oil prices, nominal interest rate, oil demand and oil supply shocks speculative oil demand,

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...

Optimal Oil Production and the World Supply of Oil

Optimal Oil Production and the World Supply of Oil »

Volume/Issue: 2012/294

Series: IMF Working Papers

Author(s): Nikolay Aleksandrov , lajos Gyurko , and Raphael Espinoza

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 17 December 2012

DOI: http://dx.doi.org/10.5089/9781616354831.001

ISBN: 9781616354831

Keywords: Real Options, Capacity Expansion, Equilibrium Price of Oil, oil revenues, oil prices, world supply, oil fields, General, Energy and the Macroeconomy,

We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss th...