Browsing Arbeidsnotater / Working Papers by Subject "oil demand elasticity"
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OPEC's Market Power: An Empirical Dominant Firm Model for the Oil Market
(Working Papers;3/2014, Working paper, 2014)In this paper we estimate a dominant firm-competitive fringe model for the crude oil market using quarterly data on oil prices for the 1986-2009 period. All the estimated structural parameters have the expected sign and ...