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:: Volume 11, Issue 44 (spring-2015 2015) ::
QEER 2015, 11(44): 1-14 Back to browse issues page
Effects of OPEC News Announcements on Oil Price Expectation, Modification on Dummy Variables
Saeed Madadi
Abstract:   (1355 Views)

Several Times a Year, OPEC Hosts Conferences among its Members to Agree on Further Oil Production Policies. OPEC Members’ Decisions Regarding Production Level of Cartel which Result an Increase, Cut or Maintain, Affect the Expectation of Crude Oil Price. Although for Consideration of OPEC’s Decisions in Regression Models Dummy Variables are used, Using Conventional Dummy Variables would only be Useful in Explaining Instant Effect of OPEC News Announcement. This Study Aimed to Access the Full Impact of OPEC News Announcement on Expectation of Crude Oil Price, Using Dummy Variables Modified by 4 Operators. The Results Indicate that Using Modified Dummy Variables in Comparison with Conventional ones, Lead to better Results and more Confirm the Impact of OPEC News Announcement on Expectation of Crude Oil Price.

Keywords: OPEC News Announcement, Dummy Variables, Expectation of Crude Oil Price
Full-Text [PDF 524 kb]   (425 Downloads)    
Type of Study: Research | Subject: OPEC,APEC,IEA,
Received: 2014/10/1 | Accepted: 2014/12/4 | Published: 2015/11/7
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madadi S. Effects of OPEC News Announcements on Oil Price Expectation, Modification on Dummy Variables. QEER. 2015; 11 (44) :1-14
URL: http://iiesj.ir/article-1-414-en.html


Volume 11, Issue 44 (spring-2015 2015) Back to browse issues page
فصلنامه مطالعات اقتصاد انرژی Quarterly Energy Economics Review
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