Estimating Long-run Elasticity between Crude Oil Consumption, Real Oil Price, and Real GDP in Global Markets

被引：0
|
作者：
Fahad A.Y. [1 ]
Battal A.H. [2 ]
Yaseen A. [3 ]
机构：
[1] College of Administration, Economics, Finance and Banking Department, Al Iraqia University, Baghdad
[2] College of Administration and Economics, University of Anbar, IRAQ Organization Address, Anbar
[3] OPEC, Vienna
来源：
Iraqi Journal for Computer Science and Mathematics | 2023年 / 4卷 / 02期
关键词：
crude oil consumption elasticity; DOLS; Global oil Markets; oil prices; PMG/ARDL; real GDP;
D O I：
10.52866/ijcsm.2023.02.02.009
中图分类号：
学科分类号：
摘要：
The study examine the long-run relationship between crude oil consumption, real oil price, and real GDP using a quarterly time series from 1993 to 2020. the empirical analysis uses the Dynamic Least Squares (DOLS) model for both short-run and long-run elasticity among the model variables to estimate the short-run and long-run elasticity of demand for crude oil consumption in 10 regions using Panel Dynamic Least Squares (DOLS) and Pooled Mean Group-AR Distributed Lag Models (PMG/ARDL). The empirical analysis findings confirme that the demand for crude oil internationally is highly insensitive to changes in price and real GDP. © 2023 The Author(s).
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页码：109 / 117
页数：8
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