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Oil Extraction and Price Dynamics

Aude Illig and Ian Schindler

No 16-701, TSE Working Papers from Toulouse School of Economics (TSE)

Abstract: We use the dynamic production function identities and an empirical model of oil prices based only on oil extraction data to analyze the dynamics of oil prices as we transition into the contraction phase of oil extraction. We explore the implications with respect to several common scenarios.

Date: 2016
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