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Climate Notes: A Guide to Speculation

Author

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  • Marc Gronwald
  • Jana Lippelt

Abstract

When the oil price hit a record high in 2008, it triggered both public and academic debate over the causes of this price increase. The “Climate Notes” series summarises these debates and highlights an aspect that may seem obvious, but seem to have been overlooked by discussions to date, namely that “speculators” are basically in a position to influence oil prices.

Suggested Citation

  • Marc Gronwald & Jana Lippelt, 2014. "Climate Notes: A Guide to Speculation," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(21), pages 58-59, November.
    • Handle: RePEc:ces:ifosdt:v:67:y:2014:i:21:p:58-59
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    References listed on IDEAS

    as
    1. Morana, Claudio, 2013. "Oil price dynamics, macro-finance interactions and the role of financial speculation," Journal of Banking & Finance, Elsevier, vol. 37(1), pages 206-226.
    2. Bassam Fattouh, Lutz Kilian, and Lavan Mahadeva, 2013. "The Role of Speculation in Oil Markets: What Have We Learned So Far?," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3).
    3. Luciana Juvenal & Ivan Petrella, 2015. "Speculation in the Oil Market," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 30(4), pages 621-649, June.
    4. Irwin, Scott H. & Sanders, Dwight R., 2012. "Testing the Masters Hypothesis in commodity futures markets," Energy Economics, Elsevier, vol. 34(1), pages 256-269.
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    More about this item

    JEL classification:

    • L72 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Other Nonrenewable Resources
    • Q32 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Exhaustible Resources and Economic Development

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