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The global oil market has experienced a steady decline in oil production volatility and a concurrent increase in the volatility of real oil prices since the mid-1980s. To study the underlying causes of the diverging volatility dynamics, we estimate a generalized time varying SVAR model that...
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The global oil market has experienced a steady decline in oil production volatility and a concurrent increase in the volatility of real oil prices since the mid-1980s. To study the underlying causes of the diverging volatility dynamics, we estimate a generalized time varying SVAR model that...
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