An Oil and Gas Model /

This paper formulated a short-run model, with an explicit role for monetary policy, for analyzing world oil and gas markets. The model described carefully the parameters of these markets and their vulnerability to business cycles. Estimates showed that short-run demand for oil and gas was price- ine...

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Dettagli Bibliografici
Autore principale: Krichene, Noureddine
Natura: Periodico
Lingua:English
Pubblicazione: Washington, D.C. : International Monetary Fund, 2007.
Serie:IMF Working Papers; Working Paper ; No. 2007/135
Accesso online:Full text available on IMF
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245 1 3 |a An Oil and Gas Model /  |c Noureddine Krichene. 
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490 1 |a IMF Working Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a This paper formulated a short-run model, with an explicit role for monetary policy, for analyzing world oil and gas markets. The model described carefully the parameters of these markets and their vulnerability to business cycles. Estimates showed that short-run demand for oil and gas was price- inelastic, relatively income-elastic, and was influenced by interest and exchange rates; short-run supply was price-inelastic. Short-run price inelasticity could be a source for high volatility in oil and gas prices, and could confer to producers a temporary market power. Being simultaneous and incorporating interest and exchange rates, the model could be useful in short-term forecasting of oil and gas outputs and prices under policy scenarios. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 2007/135 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/001/2007/135/001.2007.issue-135-en.xml  |z IMF e-Library