Descripción del título
Assessing the factors behin...
The rapid rise in the price of crude oil between 2004 and the summer of 2006 are the subject of debate. This paper investigates the factors that might have contributed to the oil price increase in addition to demand and supply for crude oil, by expanding a model for crude oil prices to include refinery utilization rates, a non-linear effect of OPEC capacity utilization, and conditions in futures markets as explanatory variables. Together, these factors allow the model to perform well relative to forecasts implied by the far month contracts on the New York Mercantile Exchange and are able to account for much of the $26 rise in crude oil prices between 2004 and 2006
Analítica
analitica Rebiun26588089 https://catalogo.rebiun.org/rebiun/record/Rebiun26588089 m d cr cnunnnauuau 080430s2008 gw rt 000 0 eng c ES-LeU Assessing the factors behind oil price changes by Stéphane Dées... [et al.] Frankfurt am Main European Central Bank 2008 Frankfurt am Main Frankfurt am Main European Central Bank 37 p. 30 cm 37 p. Working paper series / European Central Bank ISSN 1561-0810 855 The rapid rise in the price of crude oil between 2004 and the summer of 2006 are the subject of debate. This paper investigates the factors that might have contributed to the oil price increase in addition to demand and supply for crude oil, by expanding a model for crude oil prices to include refinery utilization rates, a non-linear effect of OPEC capacity utilization, and conditions in futures markets as explanatory variables. Together, these factors allow the model to perform well relative to forecasts implied by the far month contracts on the New York Mercantile Exchange and are able to account for much of the $26 rise in crude oil prices between 2004 and 2006 Texto completo disponible también en Internet, en formato PDF Dées, Stéphane Banco Central Europeo Working paper series (Banco Central Europeo)