| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP12047 |
| DP12047 Lags, Costs and Shocks: An Equilibrium Model of the Oil Industry | |
| Sérgio Rebelo; Per Krusell; Gideon Bornstein | |
| 发表日期 | 2017-05-12 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | We use a new micro data set that covers all oil fields in the world to estimate a stochastic industry-equilibrium model of the oil industry with two alternative market structures. In the first, all firms are competitive. In the second, OPEC firms act as a cartel. This effort is a first step towards studying the importance of ongoing structural changes in the oil market in a general- equilibrium model of the world economy. We analyze the impact of the advent of fracking on the volatility of oil prices. Our model predicts a large decline in this volatility. |
| 主题 | International Macroeconomics and Finance ; Macroeconomics and Growth |
| 关键词 | Oil Commodities Volatility |
| URL | https://cepr.org/publications/dp12047-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540858 |
| 推荐引用方式 GB/T 7714 | Sérgio Rebelo,Per Krusell,Gideon Bornstein. DP12047 Lags, Costs and Shocks: An Equilibrium Model of the Oil Industry. 2017. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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