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dc.contributor.authorBjørnland, Hilde C.
dc.date.accessioned2019-11-21T15:50:20Z
dc.date.available2019-11-21T15:50:20Z
dc.date.issued2019-11-18
dc.identifier.issn1892-2198
dc.identifier.urihttp://hdl.handle.net/11250/2629918
dc.description.abstractIn two recent papers, Kilian and Zhou (2019) and Kilian (2019) have criticized Bjørnland, Nordvik, and Rohrer (2017), arguing that our finding of a large price elasticity of output for shale producers is not credible. We welcome a discussion of our methods and findings, but the criticisms made in these two papers are inaccurate and mischaracterize our analysis and results. In this note I address the criticism that has been made, arguing that our findings support the notion that the degree of output flexibility is dependent on the production technology in question. Furthermore, I argue that knowledge that shale producers are more price elastic than conventional oil producers could have far reaching implications for the industry, for macroeconomic outcomes, and for policy analysis.nb_NO
dc.language.isoengnb_NO
dc.publisherBI Norwegian Business Schoolnb_NO
dc.relation.ispartofseriesCAMP Working Paper Series;08/2019
dc.titleSupply flexibility in the shale patch: Facts, no fictionnb_NO
dc.typeWorking papernb_NO
dc.source.pagenumber14nb_NO


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