Abstract
We use the dynamic production function identities and an empirical model of oil prices based only on oil extraction data to analyze the dynamics of oil prices as we transition into the contraction phase of oil extraction. We explore the implications with respect to several common scenarios.
Keywords
Oil extraction rates· Economic growth· Oil price dynamics;
Replaces
Aude Illig, and Ian Schindler, “Oil Extraction and Price Dynamics”, TSE Working Paper, n. 16-701, 2016.
Reference
Aude Illig, and Ian Schindler, “Oil Extraction and Price Dynamics”, BioPhysical Economics and Resource Quality, vol. 2, n. 1, March 2017.
See also
Published in
BioPhysical Economics and Resource Quality, vol. 2, n. 1, March 2017