Clustering in crude oil prices and the target pricing zone hypothesis

Volume: 34, Issue: 4, Pages: 1115 - 1123
Published: Jul 1, 2012
Abstract
This paper studies the target pricing zone (TPZ) hypothesis for crude oil by examining price clustering in the dollar digit. It is hypothesized that price clustering occurs within an established TPZ if OPEC is able to defend the upper and lower bounds through output changes. The results show that prices strongly cluster around the dollar digit value of 9 within the TPZ sub-periods, but not outside the sub-periods. Furthermore, the degree of...
Paper Details
Title
Clustering in crude oil prices and the target pricing zone hypothesis
Published Date
Jul 1, 2012
Volume
34
Issue
4
Pages
1115 - 1123
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