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Understanding Oil Price Dynamics and their Effects over Recent Decades: An Interview with James Hamilton

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Abstract:
The following interview with Prof. James Hamilton was conducted in April 2018 by Dr. Fredj Jawadi with the assistance of Professors James L. Smith and Adonis Yatchew during the 5th International Symposium in Computational Economics and Finance (ISCEF) held in Paris, France. The interview includes 21 questions related to oil price dynamics. The aim of the discussion was, first, to help the reader gain a better understanding of the factors driving changes in oil prices, second, to examine the impact of oil price shocks on the economy and, third, to understand the dynamics of oil prices in the future. The recent related literature on oil price uncertainty is also discussed. We hope that this interview will give the reader clearer insights into the causes and consequences of oil price change and its evolution over time.

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Keywords: Oil price shock, causes of oil price changes, consequences of oil price shock, uncertainty, global financial crisis.


Published in Volume 40, Special Issue 1 of the bi-monthly journal of the IAEE's Energy Economics Education Foundation.