Dissertation/Thesis Abstract

Role of speculation in short-term US oil crude prices and gasoline price variability of the 2000s and the role of monetary policy price stability interventions
by Norris, Leah C., M.A., University of South Carolina, 2009, 128; 1475762
Abstract (Summary)

The objectives of this study were to analyze the short-run impact of futures contract prices on crude oil prices, the impact of crude oil prices on gasoline prices for consumers, and the effect of monetary policy interventions on the stability of the real price of oil for 2000-2008. In this study I used three sets of multivariate VEC models to estimate these relationships. My results show that, after accounting for supply and demand conditions, crude oil prices increased with the introduction of futures contracts on oil. The results also showed the magnitude of the effect of changes in the price of crude oil on gasoline prices. Lastly, my results showed that monetary policy interventions of raising the federal fund interest rate did not alleviated some of the upward pressure of the real price of crude oil.

Indexing (document details)
Advisor: Breuer, Janice, Guimaraes, Paulo
Commitee:
School: University of South Carolina
Department: Economics
School Location: United States -- South Carolina
Source: MAI 48/05M, Masters Abstracts International
Source Type: DISSERTATION
Subjects: Economics, Political science
Keywords: Gas price, Monetary policy, Oil price, Speculation
Publication Number: 1475762
ISBN: 9781109753899
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