Bornstein, Gideon
[Verfasser:in]
;
Krusell, Per
[Sonstige Person, Familie und Körperschaft];
Rebelo, Sergio
[Sonstige Person, Familie und Körperschaft]National Bureau of Economic Research
Erschienen:
Cambridge, Mass: National Bureau of Economic Research, May 2017
Erschienen in:NBER working paper series ; no. w23423
Umfang:
1 Online-Ressource
Sprache:
Englisch
DOI:
10.3386/w23423
Identifikator:
Reproduktionsnotiz:
Hardcopy version available to institutional subscribers
Entstehung:
Anmerkungen:
Mode of access: World Wide Web
System requirements: Adobe [Acrobat] Reader required for PDF files
Beschreibung:
We use a new micro data set to estimate a stochastic industry-equilibrium model of the oil industry. This effort is a first step towards studying the importance of ongoing structural changes in the oil market in a general-equilibrium model of the world economy. We analyze the impact of the advent of fracking on the volatility of oil prices. Our model predicts a large decline in this volatility