Work

Price elasticity of demand for crude oil: estimates for 23 countries

Year: 2003

Type: article

Abstract: This paper uses a multiple regression model derived from an adaptation of Nerlove's partial adjustment model to estimate both the short–run and long–run elasticities of demand for crude oil in 23 countries. The estimates so obtained confirm that the demand for crude oil internationally is highly insensitive to changes in price.

Source: OPEC Review

DOI: 10.1111/1468-0076.00121

Author: John C.B. Cooper

Institution: Glasgow Caledonian University

Language: English

Topic: Energy, Environment, and Transportation Policies

Subfield: Renewable Energy, Sustainability and the Environment

Field: Energy

Domain: Physical Sciences

Open Access status: green

OpenAlex ID: W2002928645

FWCI: 2.858

Cites: 1

Cited by: 332

Related to: 10