| 来源类型 | Research papers
|
| 规范类型 | 报告
|
| The Risk Premium and The Proper Level of Emergency Oil Stockpiling |
| C. W. Park; Y. K. Lee
|
| 发表日期 | 2002-12-31
|
| 出版年 | 2002
|
| 语种 | 英语
|
| 摘要 |
��
The object of this study is to develop a theoretical model of the risk premium associated with oil stockpile and to evaluate the economic benefits of enlarging Korea oil stockpile size.
The risk premium is dependent on degree of risk aversion, elasticities of oil demand and supply, and covariances involving oil prices. Calculations based on the econometric model suggest that public risk premium is sensitive to the risk preferences and other factors.
The economic assessment of enlarging oil stockpiling capabilities is done using a simulation model known as Dis-Risk. In this model, several stockpile sizes are compared side-by-side.
They are subjected to the same random disruptions. Each reserve is specified in terms of its cost and target size.
Oil supply disruptions are simulated against reference paths for world oil prices, oil demand and supply. In each year, a oil disruption may occur. Disruptions have a random duration and size.
This model compares oil market outcomes and economic welfare over the next twenty-nine years(2002-2030) for distinct reserve programs.
157 pages, 21 refs., 18 figs., 19 tabs., Language: Korean |
| URL | http://www.keei.re.kr/web_keei/en_publish.nsf/by_report_year/F4615A32739E1A3A49256CCC0037783E?OpenDocument
|
| 来源智库 | Korea Energy Economics Institute (Republic of Korea)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/322245
|
推荐引用方式
GB/T 7714 |
C. W. Park,Y. K. Lee. The Risk Premium and The Proper Level of Emergency Oil Stockpiling. 2002.
|
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
