Are long-run income and price elasticities of oil demand time-varying? New evidence from BRICS countries

• Published in: Energy (Oxford) Vol. 229; p. 120710
• Main Authors: Eleyan, Mohammed I.Abu, Çatık, Abdurrahman Nazif, Balcılar, Mehmet, Ballı, Esra
• Format: Journal Article
• Language: English
• Published: Oxford Elsevier Ltd 15.08.2021; Elsevier BV
• Subjects: BRICS; Crude oil prices; Economic conditions; Greenhouse gases; Income; Income elasticity; Oil demand; Parameters; Petroleum products; Price elasticity; Taxation; Time-varying cointegration; Brazil; South Africa; China; BRICS countries; Russia; India; Oil demand; BRICS; Price elasticity; Time-varying cointegration; Income elasticity

This study investigates and estimates long-run time-varying income and price elasticities of oil demand in Brazil, Russia, India, China, and South Africa (BRICS). A time-varying cointegration (TVC) approach allowing for the smooth changes in the parameters is employed, using quarterly data covering...