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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Tipo de recurso:
Fecha de publicación:
2014
Institución:
Universidad del Rosario
Repositorio:
Repositorio EdocUR - U. Rosario
Idioma:
eng
OAI Identifier:
oai:repository.urosario.edu.co:10336/23933
Acceso en línea:
https://doi.org/10.1016/j.eneco.2014.10.006
https://repository.urosario.edu.co/handle/10336/23933
Palabra clave:
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
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License
Abierto (Texto Completo)
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network_name_str Repositorio EdocUR - U. Rosario
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spelling a77e4982-67ef-4241-a60f-93f241ebcd9f-11f1a7996-5b8a-4390-bdc9-3ff88367043b-1792428146002020-05-26T00:06:49Z2020-05-26T00:06:49Z2014We 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.application/pdfhttps://doi.org/10.1016/j.eneco.2014.10.0060140988318736181https://repository.urosario.edu.co/handle/10336/23933engElsevierS32 No. S1S28Energy EconomicsVol. 46Energy Economics, ISSN:01409883, 18736181, Vol.46, No.S1 (2014); pp. S28-S32https://www.scopus.com/inward/record.uri?eid=2-s2.0-84919386500&doi=10.1016%2fj.eneco.2014.10.006&partnerID=40&md5=d146199c4bbd4ac07fc7953fc255b892Abierto (Texto Completo)http://purl.org/coar/access_right/c_abf2instname:Universidad del Rosarioreponame:Repositorio Institucional EdocURCostsOil shaleCross-section analysisCrude oil pricesDynamic adjustmentInstitutional arrangementInstitutional factorsLong-term relationshipsMethodological approachPhysical similaritiesCrude oilBenchmarkingCrude oilHeterogeneityInstitutional frameworkOil productionOil supplyPrice dynamicsTime series analysisCross-section analysisCrude oil pricesDynamic adjustmentCrude oil price differentials, product heterogeneity and institutional arrangementsarticleArtículohttp://purl.org/coar/version/c_970fb48d4fbd8a85http://purl.org/coar/resource_type/c_6501Giulietti, MonicaIregui, Ana MaríaOtero Cardona, Jesús Gilberto10336/23933oai:repository.urosario.edu.co:10336/239332022-05-02 07:37:21.284997https://repository.urosario.edu.coRepositorio institucional EdocURedocur@urosario.edu.co
dc.title.spa.fl_str_mv Crude oil price differentials, product heterogeneity and institutional arrangements
title Crude oil price differentials, product heterogeneity and institutional arrangements
spellingShingle Crude oil price differentials, product heterogeneity and institutional arrangements
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
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
dc.subject.keyword.spa.fl_str_mv 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
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
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.
publishDate 2014
dc.date.created.spa.fl_str_mv 2014
dc.date.accessioned.none.fl_str_mv 2020-05-26T00:06:49Z
dc.date.available.none.fl_str_mv 2020-05-26T00:06:49Z
dc.type.eng.fl_str_mv article
dc.type.coarversion.fl_str_mv http://purl.org/coar/version/c_970fb48d4fbd8a85
dc.type.coar.fl_str_mv http://purl.org/coar/resource_type/c_6501
dc.type.spa.spa.fl_str_mv Artículo
dc.identifier.doi.none.fl_str_mv https://doi.org/10.1016/j.eneco.2014.10.006
dc.identifier.issn.none.fl_str_mv 01409883
18736181
dc.identifier.uri.none.fl_str_mv https://repository.urosario.edu.co/handle/10336/23933
url https://doi.org/10.1016/j.eneco.2014.10.006
https://repository.urosario.edu.co/handle/10336/23933
identifier_str_mv 01409883
18736181
dc.language.iso.spa.fl_str_mv eng
language eng
dc.relation.citationEndPage.none.fl_str_mv S32
dc.relation.citationIssue.none.fl_str_mv No. S1
dc.relation.citationStartPage.none.fl_str_mv S28
dc.relation.citationTitle.none.fl_str_mv Energy Economics
dc.relation.citationVolume.none.fl_str_mv Vol. 46
dc.relation.ispartof.spa.fl_str_mv Energy Economics, ISSN:01409883, 18736181, Vol.46, No.S1 (2014); pp. S28-S32
dc.relation.uri.spa.fl_str_mv https://www.scopus.com/inward/record.uri?eid=2-s2.0-84919386500&doi=10.1016%2fj.eneco.2014.10.006&partnerID=40&md5=d146199c4bbd4ac07fc7953fc255b892
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_abf2
dc.rights.acceso.spa.fl_str_mv Abierto (Texto Completo)
rights_invalid_str_mv Abierto (Texto Completo)
http://purl.org/coar/access_right/c_abf2
dc.format.mimetype.none.fl_str_mv application/pdf
dc.publisher.spa.fl_str_mv Elsevier
institution Universidad del Rosario
dc.source.instname.spa.fl_str_mv instname:Universidad del Rosario
dc.source.reponame.spa.fl_str_mv reponame:Repositorio Institucional EdocUR
repository.name.fl_str_mv Repositorio institucional EdocUR
repository.mail.fl_str_mv edocur@urosario.edu.co
_version_ 1814167599211085824

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