Application of Infinity Cartesian Space (I-Cartesian Space): Oil Prices from 1960 to 2010
FEA Working Paper No. 2006-9
8 Pages Posted: 31 Mar 2006 Last revised: 5 Jan 2010
Date Written: March 1, 2006
This paper is interested to show a new data visualization tool to study economics. The new data visualization tool is called "Infinity Cartesian Space (I-Cartesian Space)". The I-Cartesian Space can show from a different visual perspective an economic phenomenon. The study case to apply the I-Cartesian Space is the study of oil prices from 1960 to 2010. In this study case is possible to observe the oil prices behavior change dramatically after 1970's but especially from 1990's until 2010.
The vulnerability of oil prices can be observed clearly on the I-Cartesian Space. The vulnerability of prices is based on the changes under the same price range into the same Cartesian Space. The I-Cartesian Space shows two ranges of prices, there are stable price level and price instability level.
Keywords: Econographication, economic mathematics, economic methodology
JEL Classification: C40
Suggested Citation: Suggested Citation