Series: IMF Working Papers
Author(s): Deren Unalmis , Ibrahim Unalmis , and Filiz Unsal
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 08 November 2012
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...