00000nam 2200000zi 4500 9.879134 CaOODSP 20221107165430 m o d f cr cn||||||||| 190911t20192019onca ob f000 0 eng d CaOODSP eng rda CaOODSP eng eng fre FB3-5/2019-35E-PDF Bilgin, Doga, author. The simple economics of global fuel consumption / by Doga Bilgin and Reinhard Ellwanger. Ottawa, Ontario, Canada : Bank of Canada = Banque du Canada, 2019. ©2019 1 online resource (ii, 39 pages) : illustrations (chiefly colour). text txt rdacontent computer c rdamedia online resource cr rdacarrier Bank of Canada staff working paper, 1701-9397 ; 2019-35 "September 2019." Includes bibliographical references (pages 27-29). "This paper presents a structural framework of the global oil market that relies on information on global fuel consumption to identify flow demand for oil. We show that under mild identifying assumptions, data on global fuel consumption help to provide comparatively sharp insights on elasticities and other key structural parameters of the global oil market. The estimated elasticity of global fuel demand in the short run with respect to crude oil prices is around -2 percent, which is considerably more inelastic than estimates of local fuel demand elasticities based on disaggregated data. Our framework is particularly suitable for understanding the evolution of quantities in the global oil market and provides new evidence on the magnitude of different types of oil price shocks and their macroeconomic and environmental impacts"--Abstract, page ii. Includes abstracts in English and French. gccst Fuels gccst Demand gccst Petroleum industry gccst Models Ellwanger, Reinhard, author. Bank of Canada. Staff working paper (Bank of Canada) 2019-35. (CaOODSP)9.806221 PDF 2.59 MB https://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2019-35-eng.pdf