The Long-Run Evolutions of Energy Prices

Robert Pindyck

The Energy Journal, 1999, vol. Volume20, issue Number 2, 1-27

Abstract: In this paper I examine the long-run behavior of oil, coal, and natural gas prices, using up to 127 years of data, and address the following questions: Mat does over a century of data tell us about the stochastic dynamics of price evolution, and how it should be modelled? Can models of reversion to stochastically fluctuating trend lines help us forecast prices over horizons of 20 years or more? And what do the answers to these questions tell us about investment decisions that are dependent on prices and their stochastic evolution ?

JEL-codes: F0 (search for similar items in EconPapers)
Date: 1999
References: Add references at CitEc
Citations: View citations in EconPapers (220)

Downloads: (external link)
http://www.iaee.org/en/publications/ejarticle.aspx?id=1308 (text/html)
Access to full text is restricted to IAEE members and subscribers.

Related works:
Journal Article: The Long-Run Evolution of Energy Prices (1999)
Working Paper: The long-run evolution of energy prices (1998)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:aen:journl:1999v20-02-a01

Ordering information: This journal article can be ordered from
http://www.iaee.org/en/publications/ejsearch.aspx

Access Statistics for this article

More articles in The Energy Journal from International Association for Energy Economics Contact information at EDIRC.
Bibliographic data for series maintained by David Williams (iaee@iaee.org).