The Role of Income and Substitution in Commodity Demand
This paper presents estimates of time-varying income elasticities of demand for energy and metal commodities. The analysis finds that the elasticities are close to unity, evaluated at world median per capita income levels. Furthermore, the estimate...
| Main Authors: | , , |
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| Format: | Working Paper |
| Language: | English |
| Published: |
World Bank, Washington, DC
2020
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/433811579795110765/The-Role-of-Income-and-Substitution-in-Commodity-Demand http://hdl.handle.net/10986/33257 |