The role of speculation in oil markets: What have we learned so far?

Lutz Kilian, Bassam Fattouh, Lavan Mahadeva, Mon, 03/26/2012

What caused the price of oil to surge in 2003–08? CEPR DP8916 assesses – and finds little evidence for – the popular view that ‘speculation’ drives oil price shocks. Economic fundamentals, the authors argue, are still the main determinants.

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Vox readers can download CEPR Discussion Paper 8916 for free here. 

Journalists are entitled to free DP downloads on request; please contact [email protected]. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

 

Journalists are entitled to free DP downloads on request; please contact [email protected]. To learn more about subscribing to CEPR's Discussion Paper Series, please visit the CEPR website.

URL:  http://www.cepr.org/DP8916

Topics:  Energy International finance

Tags:  oil price shocks, speculation, Economic fundamentals

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