The Price of Oil over the Very Long Term

Sophie Chardon

Chapter 10 in The Econometrics of Energy Systems, 2007, pp 207-224 from Palgrave Macmillan

Abstract: Abstract Identifying the stochastic processes governing energy prices is relevant for both energy policymakers and private energy actors. On the one hand, producers have to run energy price forecasts in order to motivate investment decisions related to resource exploration or reserve development. On the other hand, policymakers need to assess the future trends that energy prices may follow in order to adjust the timing of their energy policies. Indeed, the consequences of the oil price shock in terms of economic growth have highlighted the impact of energy price fluctuations.

Keywords: Unit Root; Structural Break; Unit Root Test; Energy Price; Quadratic Trend (search for similar items in EconPapers)
Date: 2007
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DOI: 10.1057/9780230626317_10

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