Description Usage Format Source References See Also

a cross-section from 1969 to 1992

*number of observations* : 53

*observation* : production units

*country* : United Kingdown

1 |

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 pt-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)

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.

Journal of Applied Econometrics data archive : http://qed.econ.queensu.ca/jae/.

`Index.Source`

, `Index.Economics`

, `Index.Econometrics`

, `Index.Observations`

Ecdat documentation built on May 31, 2017, 2:53 a.m.

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