Bericht
Oil market structure, network effects and the choice of currency for oil invoicing
A recurring theme in recent years in the debate on the international role of currencies has been the possiblity of pricing oil in euro. This paper contributes to these debates by providing a detailed review of the empirical evidence regarding the market for crude oil and current oil invoicing practices. It introduces a network effect model to identify the conditions under which a parallel invoicing in different currencies would be possible. The paper also includes a simulation designed to illustrate the dynamics of the currency choice of oil invoicing.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Occasional Paper ; No. 77
- Classification
-
Wirtschaft
- Subject
-
Ölmarkt
Marktmechanismus
Währungssubstitution
Welt
- Event
-
Geistige Schöpfung
- (who)
-
Mileva, Elitza
Siegfried, Nikolaus
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2007
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Bericht
Associated
- Mileva, Elitza
- Siegfried, Nikolaus
- European Central Bank (ECB)
Time of origin
- 2007
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