Crude Oil Prices and the Chaotic Growth Mode

6th International Scientific Conference – EMAN 2022 – Economics and Management: How to Cope With Disrupted Times, Ljubljana, Slovenia, March 24, 2022, CONFERENCE PROCEEDINGS, published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; ISBN 978-86-80194-57-8, ISSN 2683-4510

Abstract:

The basic aims of this paper are: firstly, to create the simple cha­otic crude oil prices growth model that is capable of generating stable equi­librium, cycles, or chaos; secondly, to discover a sequence of Elliot waves in crude oil prices movements in the period 1998-2015; and thirdly, to analyze the local stability of crude oil prices in the period 1998-2015. This paper con­firms the existence of the convergent fluctuations of crude oil prices in the ob­served period.

Keywords:

Crude Oil; Prices; Chaos; Elliot Waves

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