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008190911t20192019onca    ob   f000 0 eng d
040 |aCaOODSP|beng|erda|cCaOODSP
0410 |aeng|beng|bfre
0861 |aFB3-5/2019-35E-PDF
1001 |aBilgin, Doga, |eauthor.
24514|aThe simple economics of global fuel consumption / |cby Doga Bilgin and Reinhard Ellwanger.
264 1|aOttawa, Ontario, Canada : |bBank of Canada = Banque du Canada, |c2019.
264 4|c©2019
300 |a1 online resource (ii, 39 pages) : |billustrations (chiefly colour).
336 |atext|btxt|2rdacontent
337 |acomputer|bc|2rdamedia
338 |aonline resource|bcr|2rdacarrier
4901 |aBank of Canada staff working paper, |x1701-9397 ; |v2019-35
500 |a"September 2019."
504 |aIncludes bibliographical references (pages 27-29).
516 |aElectronic monograph in PDF format.
5203 |a"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.
546 |aIncludes abstracts in English and French.
69207|2gccst|aFuels
69207|2gccst|aDemand
69207|2gccst|aPetroleum industry
69207|2gccst|aModels
7001 |aEllwanger, Reinhard, |eauthor.
7102 |aBank of Canada.
830#0|aStaff working paper (Bank of Canada)|v2019-35.|w(CaOODSP)9.806221
85640|qPDF|s2.59 MB|uhttps://publications.gc.ca/collections/collection_2019/banque-bank-canada/FB3-5-2019-35-eng.pdf