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An Analysis of Oil Production by OPEC Countries: Persistence, Breaks, and Outliers

WPnull/11 An Analysis of Oil Production by OPEC Countries: Persistence, Breaks, and Outliers
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Abstract
This study examines the degree of persistence, potential breaks and outliers of oil production for OPEC member countries within a fractional integration modelling framework using monthly data from January 1973 to October 2008. The results indicate there is mean reverting persistence in oil production with breaks identified in ten out of the fourteen countries examined. Thus, shocks affecting the structure of OPEC oil production will have persistent effects in the long run for all countries, and in some cases the effects are expected to be permanent.

Number of Pages:34

Creation Date:2011-01-18

Number:null/11

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Raúl Bajo

Raúl Bajo

Campus Universitario

31009 Pamplona, España

+34 948 42 56 00

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