Series: IMF Working Papers
Author(s): Noureddine Krichene
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2005
Keywords: Elasticities, Impulse responses, oil prices, gas output, gas supply, Multiple or Simultaneous Equation Models: Time-Series Models, Energy: Demand and Supply,
A model for world crude oil and natural gas markets is estimated. It confirms low price and high income elasticities of demand for both crude oil and natural gas, which explains the market power of oil producers an...