Speculation without Oil Stockpiling as a Signature: A Dynamic Perspective
According to the standard analysis of commodity prices, stockpiling is a necessary signature of speculation. This paper develops an approach suggesting that speculation may temporarily push crude oil prices above the level justified by physical-market fundamentals, without necessarily resulting in a...
| Main Authors: | , |
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| Format: | Working Paper |
| Language: | en_US |
| Published: |
MIT Center for Energy and Environmental Research Policy
2010
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| Online Access: | http://hdl.handle.net/1721.1/54754 |