Details

Autor(en) / Beteiligte

• Güntner, Jochen
• Henler, Johannes

Titel

Exogenous Oil supply Shocks in OPEC and Non-OPEC Countries

Ist Teil von

• The Energy journal (Cambridge, Mass.), 2021-11, Vol.42 (6), p.229-246

Ort / Verlag

Los Angeles, CA: SAGE Publications

Erscheinungsjahr

2021

Link zum Volltext

Quelle

Alma/SFX Local Collection

Beschreibungen/Notizen

• This paper expands Kilian’s (2008) original time series of exogenous oil supply shocks along two dimensions. First, we extend the sample period to include production shortfalls in OPEC member states during 2004:10-2019:12. Second, we also consider production shortfalls in non-OPEC countries. Our extended time series of exogenous oil supply shocks displays statistically significant correlation with alternative estimates of oil supply shocks based on vector-autoregressive models. At the same time, it requires a limited number of assumptions about the counterfactual evolution of production in the countries under consideration and escapes thus the current debate about the validity of common identifying restrictions in multivariate structural models.