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On the Sources and Consequences of Oil Price Shocks.
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 a (speculative) storage demand shock and to assess how the effects of various demand...
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Otros Autores: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington :
International Monetary Fund,
2012.
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| Colección: | IMF Working Papers.
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| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 049 | |a UAMI | ||
| 100 | 1 | |a Unalmis, Deren. | |
| 245 | 1 | 0 | |a On the Sources and Consequences of Oil Price Shocks. |
| 260 | |a Washington : |b International Monetary Fund, |c 2012. | ||
| 300 | |a 1 online resource (42 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF Working Papers | |
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a Cover; Contents; 1. Introduction; 2. The Model; 2.1 Households; 2.2 Firms and Production; 2.3 Monetary and Fiscal Policy; 2.4 Goods Market Equilibrium; 2.5 Storage and Oil Market Equilibrium; 3. Estimation; 3.1 Data; 3.2 Calibrated Parameters; 3.3 Prior Distributions and Estimation Results; 4. Conclusion; References; Appendix; Tables; 1. Calibrated parameters; 2. Prior distributions and posterior estimates (sample period: 1982Q1-2007Q4); 3. Variance decomposition (sample period: 1982Q1-2007Q4); 4. Variance decomposition (sample period: 2000Q1-2007Q4); Figures. | |
| 505 | 8 | |a 1. Impulse responses to a one standard deviation positive TFP shock2. Impulse responses to a one standard deviation positive labor productivity shock; 3. Impulse responses to a one standard deviation negative oil supply shock; 4. Impulse responses to a one standard deviation storage demand shock; 5. Impulse responses to a one standard deviation positive TFP shock with and without storage; 6. Impulse responses to a one standard deviation positive labor productivity shock with and without storage; 7. Impulse responses to a one standard deviation negative oil supplywith and without storage. | |
| 520 | |a 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 a (speculative) storage demand shock and to assess how the effects of various demand and supply shocks change in the presence of oil storage facility. We find that business-cycle driven oil demand shocks are the most important drivers of U.S. oil price fluctuations during 1982-2007. Disregarding the storage facility in the model causes a considerable upward bias in the estimated rol. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Petroleum products |x Prices |x Econometric models. | |
| 650 | 0 | |a Petroleum products |x Storage. | |
| 650 | 6 | |a Produits pétroliers |x Prix |x Modèles économétriques. | |
| 650 | 6 | |a Produits pétroliers |x Stockage. | |
| 650 | 7 | |a Petroleum products |x Prices |x Econometric models |2 fast | |
| 650 | 7 | |a Petroleum products |x Storage |2 fast | |
| 700 | 1 | |a Unalmis, Ibrahim. | |
| 700 | 1 | |a Unsal, D. Filiz. | |
| 758 | |i has work: |a On the sources and consequences of oil price shocks (Text) |1 https://id.oclc.org/worldcat/entity/E39PCFKhKXdFg4fYYCqCqjFTh3 |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Unalmis, Deren. |t On the Sources and Consequences of Oil Price Shocks: the Role of Storage. |d Washington : International Monetary Fund, ©2012 |z 9781475586367 |
| 830 | 0 | |a IMF Working Papers. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607056 |z Texto completo |
| 938 | |a EBL - Ebook Library |b EBLB |n EBL1607056 | ||
| 994 | |a 92 |b IZTAP | ||