
Why the oil price keeps surprising us
As of late January 2016, the West Texas Intermediate price of crude oil is approaching $30, down from $106 in June 2014. It is fair to say that few observers expected such a major decline...
Christiane Baumeister is a Principal Researcher in the International Economic Analysis Department at the Bank of Canada. She is an applied macroeconometrician whose primary research interests include the study of time-varying macroeconomic relationships with applications to the oil market and the transmission mechanism of conventional and unconventional monetary policy using Bayesian methods. Christiane has also worked extensively on forecasting the real price of oil. Her work has been published in the Journal of Business and Economic Statistics, the American Economic Journal: Macroeconomics and the International Economic Review, among others. She holds a Ph.D. in Economics from Ghent University in Belgium.
As of late January 2016, the West Texas Intermediate price of crude oil is approaching $30, down from $106 in June 2014. It is fair to say that few observers expected such a major decline...