Crude oil prices : trends and forecast /

Saved in:

Bibliographic Details
Author / Creator:	Krichene, Noureddine.
Imprint:	Washington : International Monetary Fund, May 2008. [Washington, District of Columbia] : International Monetary Fund, 2008. ©2008
Description:	1 online resource (25 pages) : illustrations.
Language:	English
Series:	IMF working paper ; WP/08/133 IMF working paper (Online) ; WP/08/133.
Subject:	Petroleum products -- Prices -- Forecasting. Petroleum products -- Prices -- Forecasting.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12508661

Hidden Bibliographic Details
Other authors / contributors:	Christensen, Benedicte Vibe.
ISBN:	1462390102 9781462390106 1451996373 9781451996371 1282840851 9781282840850 1451869924 9781451869927 9786612840852 6612840854
Notes:	Includes bibliographical references. English. Online resource; title from PDF front page (ebrary, viewed February 26, 2014).
Summary:	Annotation. Following record low interest rates and fast depreciating U.S. dollar, crude oil prices became under rising pressure and seemed boundless. Oil price process parameters changed drastically in 2003M5-2007M10 toward consistently rising prices. Short-term forecasting would imply persistence of observed trends, as market fundamentals and underlying monetary policies were supportive of these trends. Market expectations derived from option prices anticipated further surge in oil prices and allowed significant probability for right tail events. Given explosive trends in other commodities prices, depreciating currencies, and weakening financial conditions, recent trends in oil prices might not persist further without triggering world economic recession, regressive oil supply, as oil producers became wary about inflation. Restoring stable oil markets, through restraining monetary policy, is essential for durable growth and price stability.
Other form:	1451914458

Similar Items