Reinhard Ellwanger

Senior Economist

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Reinhard Ellwanger

Senior Economist

Bank of Canada
234 Wellington Street
Ottawa, ON, K1A 0G9

Latest

Did the Renewable Fuel Standard Shift Market Expectations of the Price of Ethanol?

Staff Working Paper 2017-35 Christiane Baumeister, Reinhard Ellwanger, Lutz Kilian
It is commonly believed that the response of the price of corn ethanol (and hence of the price of corn) to shifts in biofuel policies operates in part through market expectations and shifts in storage demand, yet to date it has proved difficult to measure these expectations and to empirically evaluate this view.

Low for Longer? Why the Global Oil Market in 2014 Is Not Like 1986

In the second half of 2014, oil prices experienced a sharp decline, falling more than 50 per cent between June 2014 and January 2015. A cursory glance at this oil price crash suggests similarities to developments in 1986, when the price of oil declined by more than 50 per cent, initiating an episode of relatively low oil prices that lasted for more than a decade.

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