Vista Equipo: Crude oil price differentials, product heterogeneity and institutional arrangements

Crude oil price differentials, product heterogeneity and institutional arrangements

We adopt time-series and cross-section methods to analyse long-term relationships between pairs of crude oil prices and assess how physical and institutional factors affect their speed of reaction to exogenous shocks. Using a methodological approach which does not require identifying specific crudes...

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Autores Principales:	Giulietti, Monica, Iregui, Ana María, Otero, Jesus
Formato:	Artículo (Article)
Lenguaje:	Inglés (English)
Publicado:	Elsevier 2014
Materias:	Costs Oil shale Cross-section analysis Crude oil prices Dynamic adjustment Institutional arrangement Institutional factors Long-term relationships Methodological approach Physical similarities Crude oil Benchmarking Heterogeneity Institutional framework Oil production Oil supply Price dynamics Time series analysis
Acceso en línea:	https://repository.urosario.edu.co/handle/10336/23933 https://doi.org/10.1016/j.eneco.2014.10.006

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recordtype	dspace
spelling	ir-10336-239332022-05-02T12:37:21Z Crude oil price differentials, product heterogeneity and institutional arrangements Giulietti, Monica Iregui, Ana María Otero, Jesus Costs Oil shale Cross-section analysis Crude oil prices Dynamic adjustment Institutional arrangement Institutional factors Long-term relationships Methodological approach Physical similarities Crude oil Benchmarking Crude oil Heterogeneity Institutional framework Oil production Oil supply Price dynamics Time series analysis Cross-section analysis Crude oil prices Dynamic adjustment We adopt time-series and cross-section methods to analyse long-term relationships between pairs of crude oil prices and assess how physical and institutional factors affect their speed of reaction to exogenous shocks. Using a methodological approach which does not require identifying specific crudes as benchmarks, we show that the overwhelming majority of prices have stable long term relationships. We also find that crudes with physical similarity converge quickly after a shock, while prices for oil produced in OPEC countries are relatively slow to revert to equilibrium after a shock. © 2014 Elsevier B.V. 2014 2020-05-26T00:06:49Z info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 01409883 18736181 https://repository.urosario.edu.co/handle/10336/23933 https://doi.org/10.1016/j.eneco.2014.10.006 eng info:eu-repo/semantics/openAccess application/pdf Elsevier instname:Universidad del Rosario
institution	EdocUR - Universidad del Rosario
collection	DSpace
language	Inglés (English)
topic	Costs Oil shale Cross-section analysis Crude oil prices Dynamic adjustment Institutional arrangement Institutional factors Long-term relationships Methodological approach Physical similarities Crude oil Benchmarking Crude oil Heterogeneity Institutional framework Oil production Oil supply Price dynamics Time series analysis Cross-section analysis Crude oil prices Dynamic adjustment
spellingShingle	Costs Oil shale Cross-section analysis Crude oil prices Dynamic adjustment Institutional arrangement Institutional factors Long-term relationships Methodological approach Physical similarities Crude oil Benchmarking Crude oil Heterogeneity Institutional framework Oil production Oil supply Price dynamics Time series analysis Cross-section analysis Crude oil prices Dynamic adjustment Giulietti, Monica Iregui, Ana María Otero, Jesus Crude oil price differentials, product heterogeneity and institutional arrangements
description	We adopt time-series and cross-section methods to analyse long-term relationships between pairs of crude oil prices and assess how physical and institutional factors affect their speed of reaction to exogenous shocks. Using a methodological approach which does not require identifying specific crudes as benchmarks, we show that the overwhelming majority of prices have stable long term relationships. We also find that crudes with physical similarity converge quickly after a shock, while prices for oil produced in OPEC countries are relatively slow to revert to equilibrium after a shock. © 2014 Elsevier B.V.
format	Artículo (Article)
author	Giulietti, Monica Iregui, Ana María Otero, Jesus
author_facet	Giulietti, Monica Iregui, Ana María Otero, Jesus
author_sort	Giulietti, Monica
title	Crude oil price differentials, product heterogeneity and institutional arrangements
title_short	Crude oil price differentials, product heterogeneity and institutional arrangements
title_full	Crude oil price differentials, product heterogeneity and institutional arrangements
title_fullStr	Crude oil price differentials, product heterogeneity and institutional arrangements
title_full_unstemmed	Crude oil price differentials, product heterogeneity and institutional arrangements
title_sort	crude oil price differentials, product heterogeneity and institutional arrangements
publisher	Elsevier
publishDate	2014
url	https://repository.urosario.edu.co/handle/10336/23933 https://doi.org/10.1016/j.eneco.2014.10.006
_version_	1740172609532723200
score	12,131701

Crude oil price differentials, product heterogeneity and institutional arrangements

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