An Application of Models of Speculative Behaviour to Oil Prices

Shi, ShuPing; Vipin, Arora

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An Application of Models of Speculative Behaviour to Oil Prices

Date

2012

Authors

Shi, ShuPing

Vipin, Arora

Publisher

Elsevier

Abstract

We estimate three different models of speculative behaviour using oil price data. Our findings provide support for the claim by . Phillips and Yu (2011) and . Gilbert (2010) that a bubble in oil prices existed for a short period in 2008.