R: Oil Investment

Oil {Ecdat}

R Documentation

Oil Investment

Description

a cross-section from 1969 to 1992

number of observations : 53

observation : production units

country : United Kingdom

Usage

data(Oil)

Format

A dataframe containing :

dur: duration of the appraisal lag in months (time span between discovery of an oil field and beginning of development, i.e. approval of annex B).
size: size of recoverable reserves in millions of barrels
waterd: depth of the sea in metres
gasres: size of recoverable gas reserves in billions of cubic feet
operator: equity market value (in 1991 million pounds) of the company operating the oil field
p: real after–tax oil price measured at time of annex B approval
vardp: volatility of the real oil price process measured as the squared recursive standard errors of the regression of codept-pt-1 on a constant
p97: adaptive expectations (with parameter theta=0.97) for the real after–tax oil prices formed at the time of annex B approval
varp97: volatility of the adaptive expectations (with parameter theta=0.97) for real after tax oil prices measured as the squared recursive standard errors of the regression of pt on pte(theta)
p98: adaptive expectations (with parameter theta=0.98) for the real after–tax oil prices formed at the time of annex B approval
varp98: volatility of the adaptive expectations (with parameter theta=0.98) for real after tax oil prices measured as the squared recursive standard errors of the regression of pt on pte(theta)

Source

Favero, Carlo A., M. Hashem Pesaran and Sunil Sharma (1994) “A duration model of irreversible oil investment : theory and empirical evidence”, Journal of Applied Econometrics, 9(S), S95–S112.

References