Template-Type: ReDIF-Article 1.0
Author-Name:  Robert S. Pindyck
Title:  The Long-Run Evolutions of Energy Prices
Classification-JEL: F0
Pages:  1-27
Volume:  Volume20
Issue:  Number 2
Year:  1999
Abstract:  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: Mat 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 ?
Handle: RePEc:aen:journl:1999v20-02-a01
File-URL: http://www.iaee.org/en/publications/ejarticle.aspx?id=1308
File-Format: text/html
File-Restriction: Access to full text is restricted to IAEE members and subscribers.