The complexity of the world oil market has increased dramatically in recent years and new approaches are needed to understand, model, and forecast oil prices today. In addition to the commencement of the financialization era in oil markets, there have been structural changes in the global oil...

Estimating the relationship between economic development and energy demand and determining whether that relationship changes as levels of development change have been popular questions in energy economics. The current paper contributes to the literature by assembling a wide panel dataset of...

This analysis provides an empirical perspective on the role of technical progress in OECD oil demand since 1971. It differentiates the role of price-induced and exogenous technical progress from other time-related factors that may influence oil demand growth. Results confirm that both sources of...