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A structural model of the global oil market / by Reinhard Ellwanger.: FB3-7/2019-17E-PDF

"This note presents a structural vector autoregressive (SVAR) model of the global oil market. The model identifies four types of shocks with different economic interpretations: oil supply shocks, oil-market-specific demand shocks, storage demand shocks and shocks to global economic growth. The historical decomposition of oil price fluctuations suggests that oil supply shocks were the dominant force during the 2014–15 oil price decline. Several examples illustrate the model’s usefulness for conditional forecasts of oil market variables under different scenarios for global GDP growth and oil consumption"--Abstract, page ii.

Permanent link to this Catalogue record:
publications.gc.ca/pub?id=9.874707&sl=0

Publication information
Department/Agency
  • Bank of Canada.
TitleA structural model of the global oil market / by Reinhard Ellwanger.
Series title
  • Staff analytical note = Note analytique du personnel, 2369-9639 ; 2019-17
Publication typeMonograph - View Master Record
Language[English]
FormatDigital text
Electronic document
Note(s)
  • Title from cover.
  • Includes bibliographical references.
  • Includes abstract in French.
Publishing information
  • Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2019.
  • ©2019
Author / Contributor
  • Ellwanger, Reinhard, author.
Description1 online resource (ii, 10 unnumbered pages) : graphs.
Catalogue number
  • FB3-7/2019-17E-PDF
Subject terms
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