|
| Scarpa, Elisa; Longo, Chiara; Manera, Matteo; Markandya, Anil. |
| The relevance of oil in the world economy explains why considerable effort has been devoted to the development of different types of econometric models for oil price forecasting. Several specifications have been proposed in the economic literature. Some are based on financial theory and concentrate on the relationship between spot and futures prices (financial models). Others assign a key role to variables explaining the characteristics of the physical oil market (structural models). The empirical literature is very far from any consensus about the appropriate model for oil price forecasting that should be implemented. Relative to the previous literature, this paper is novel in several respects. First of all, we test and systematically evaluate the... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Resource /Energy Economics and Policy. |
| Ano: 2007 |
URL: http://purl.umn.edu/12118 |
