OIL COSTS AND PRICES: AN EMPIRICAL CAUSALITY ANALYSIS
نویسندگان
چکیده
This study analyzes the causal relationship between oil prices and production costs their implication over hedging in companies. Two different data sets have been used as a proxy for costs: i) monthly product price index related to activities from Bureau of Labour Statistics; ii) yearly obtained reports publicly traded For price, future contracts Brent (1M, 12M, 24M, 60M) explored. Based on Granger's definition causality, using Toda-Yamamoto (1995) methodology, both directions tested. The results indicate that (any term curve) Granger-cause costs, not other way around (as it has considered many specialists) any curve.Keywords: Oil Price, Production Costs, Hedging, Granger Causality, JEL Classifications: Q41, Q47DOI: https://doi.org/10.32479/ijeep.10887
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ژورنال
عنوان ژورنال: International Journal of Energy Economics and Policy
سال: 2021
ISSN: ['2146-4553']
DOI: https://doi.org/10.32479/ijeep.10887