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).

引用

页码：109 / 117

页数：8

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