Modelling the world oil market: Assessme
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StΓ©phane DΓ©es; Pavlos Karadeloglou; Robert K. Kaufmann; Marcelo SΓ‘nchez
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Article
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2007
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Elsevier Science
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English
β 400 KB
This paper describes a structural econometric model of the world oil market that can be used to analyse oil market developments and risks. Oil demand depends on domestic economic activity and the real price of oil. Oil supply for non-OPEC producers, based on competitive behaviours, is constrained by