Vis enkel innførsel

dc.contributor.authorGundersen, Thomas S.
dc.date.accessioned2018-04-26T18:02:20Z
dc.date.available2018-04-26T18:02:20Z
dc.date.issued2018-04
dc.identifier.issn1892-2198
dc.identifier.urihttp://hdl.handle.net/11250/2496247
dc.description.abstractI examine the role of the U.S. shale oil boom in driving global oil prices. Using a structural vector autoregressive (SVAR) model that identifies separate oil supply shocks for the U.S. and OPEC, I find that U.S. supply shocks have exerted considerable negative pressure on the oil price. More specifically, U.S. supply shocks explain up to 13% of the oil price variation over the 2003–2015 period, considerably more than what has been found in other studies. However, the timing of the downward pressure on prices is delayed relative to the boom in U.S. shale oil production. This mismatch implies a temporary friction in the transmission of U.S. supply shocks to the rest of the world likely caused by logistical and technological challenges in the downstream supply chain.nb_NO
dc.language.isoengnb_NO
dc.publisherBI Norwegian Business School, Centre for Applied Macro- and Petroleum Economicsnb_NO
dc.relation.ispartofseriesCAMP Working Paper Series;7
dc.subjectstructural VARsnb_NO
dc.subjectoil pricesnb_NO
dc.subjectdemand and supply shocksnb_NO
dc.subjectshale oilnb_NO
dc.titleThe Impact of U.S. Supply Shocks on the Global Oil Pricenb_NO
dc.typeWorking papernb_NO
dc.source.pagenumber28nb_NO


Tilhørende fil(er)

Thumbnail

Denne innførselen finnes i følgende samling(er)

Vis enkel innførsel