Equilibrium Commodity Prices with Irreversible Investment and Non-Linear Technology
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https://www.nber.org/papers/w11864
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We model equilibrium spot and futures oil prices in a general equilibrium production economy. In our model production of the consumption good requires two inputs: the consumption good and a commodity, e.g., Oil. Oil is produced by wells whose flow rate is costly to adjust. Investment in new Oil
我们在一般均衡生产经济中对石油的均衡现货与期货价格进行建模。在我们的模型里,消费品的生产需要两种投入:消费品本身以及一种商品(例如石油)。石油由油井生产,其流量调整成本较高。对新石油的投资
提供机构:
美国国家经济研究局
创建时间:
2005-12-01



