Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/171611 
Erscheinungsjahr: 
2012
Schriftenreihe/Nr.: 
Economics Working Paper Series No. 12/168
Verlag: 
ETH Zurich, CER-ETH - Center of Economic Research, Zurich
Zusammenfassung: 
The unparalleled surge of the crude oil price after 2003 has triggered a heated scientific and public debate about its ultimate causes. Unexpected demand growth particularly from emerging economies appears to be the most prominently supported reason among academics. We study the price dynamics after 2003 in the global crude oil market using a structural VAR model. We account for structural breaks and approximate market expectations using a time series for media sentiment in order to contribute to the existing literature. We and that forward-looking demand activities rather than demand arising from current needs have played an important role for the run-up in the price of crude oil after 2003. We additionally and that emerging economies have not majorly contributed to the price surge
Schlagwörter: 
Oil Price
Spot Market
Futures Market
Fundamentals
Speculation
Financialization
JEL: 
Q43
Q41
C32
D8
E3
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
996.23 kB





Publikationen in EconStor sind urheberrechtlich geschützt.