Q4 - Energy - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-28T12:48:56+00:00The Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market
https://www.bankofcanada.ca/2011/11/working-paper-2011-28/
There has been a systematic increase in the volatility of the real price of crude oil since 1986, followed by a decline in the volatility of oil production since the early 1990s. We explore reasons for this evolution. We show that a likely explanation of this empirical fact is that both the short-run price elasticities of oil demand and of oil supply have declined considerably since the second half of the 1980s.2011-11-29T14:06:17+00:00enThe Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil Market2011-11-29Econometric and statistical methodsInternational topicsWorking Paper 2011-28https://www.bankofcanada.ca/wp-content/uploads/2011/11/wp2011-28.pdfThe Role of Time-Varying Price Elasticities in Accounting for Volatility Changes in the Crude Oil MarketChristiane BaumeisterGert PeersmanNovember 2011EE3E31E32QQ4Q43