The long-run evolution of energy prices

被引：2
|
作者：
Pindyck, RS [1 ]
机构：
[1] MIT, Sloan Sch Management, Cambridge, MA 02139 USA
来源：
ENERGY JOURNAL | 1999年 / 20卷 / 02期
关键词：
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this paper I examine the long-run behavior of oil, coal, and natural gas prices, using up to 127 years of data, and address the following questions: What does over a century of data tell us about the stochastic dynamics of price evolution, and how it should be modelled? Can models of reversion to stochastically fluctuating trend lines help us forecast prices over horizons of 20 years or more? And what do the answers to these questions tell us about investment decisions that are dependent on prices and their stochastic evolution?
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页码：1 / 27
页数：27
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