R Dataset / Package Ecdat / Oil

On this R-data statistics page, you will find information about the Oil data set which pertains to Oil Investment . The Oil data set is found in the Ecdat R package. You can load the Oil data set in R by issuing the following command at the console data("Oil"). This will load the data into a variable called Oil. If R says the Oil data set is not found, you can try installing the package by issuing this command install.packages("Ecdat") and then attempt to reload the data with the library() command. If you need to download R, you can go to the R project website. You can download a CSV (comma separated values) version of the Oil R data set. The size of this file is about 3,136 bytes.

Oil Investment

Description

a cross-section from 1969 to 1992

number of observations : 53

observation : production units

country : United Kingdown

Usage

data(Oil)

Format

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)

Source

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.

References

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

On Things