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Crude oil and gasoline prices: an asymmetric relationship? Author info | Abstract | Publisher info | Download info | Related research | Statistics Nathan S. Balke
Stephen P. A. Brown
Mine Yücel
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Gasoline is the petroleum product whose price is most visible and, therefore, always under public scrutiny. Many claim there is an asymmetric relationship between gasoline and oil prices - specifically, gasoline price changes follow oil price changes more quickly when oil prices are rising than when they are falling. To explore this issue, Nathan Balke, Stephen Brown and Mine Yucel use several different model specifications to analyze the relationship between oil prices and the spot, wholesale, and retail prices of gasoline. They find asymmetry is sensitive to model specification but is pervasive with the most general model.
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Article provided by Federal Reserve Bank of Dallas in its journal Economic and Financial Policy Review .
Volume (Year): (1998)
Issue (Month): Q 1 ()
Pages: 2-11
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Handle: RePEc:fip:fedder:y:1998:i:q1:p:2-11Contact details of provider: Email: Web page: http://www.dallasfed.org/ More information through EDIRC
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Keywords: Petroleum industry and trade Prices References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.:
Jeffrey D. Karrenbrock, 1991.
"The behavior of retail gasoline prices: symmetric or not? ,"
Review ,
Federal Reserve Bank of St. Louis, issue Jul, pages 19-29.
[Downloadable!]
Severin Borenstein, 1991.
"Selling Costs and Switching Costs: Explaining Retail Gasoline Margins ,"
RAND Journal of Economics ,
The RAND Corporation, vol. 22(3), pages 354-369, Autumn.
[Downloadable!] (restricted)
David Neumark & Steven A. Sharpe, 1989.
"Market structure and the nature of price rigidity: evidence from the market for consumer deposits ,"
Finance and Economics Discussion Series
52, Board of Governors of the Federal Reserve System (U.S.).
Other versions: Severin Borenstein & A. Colin Cameron, 1992.
"Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes? ,"
NBER Working Papers
4138, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions:
Full
references Cited by : (explanations , Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile , click on "citations" and make appropriate adjustments.)
Axel Dreher & Tim Krieger, 2004.
"Do gasoline prices converge in a unified Europe with non- harmonized tax rates? ,"
International Finance
0411005, EconWPA.
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Other versions: Stanislav Radchenko, 2004.
"Oil price volatility and the asymmetric response of gasoline prices to oil price increases and decreases ,"
Industrial Organization
0408001, EconWPA.
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Other versions: Georg Zachmann & Christian von Hirschhausen, 2007.
"First Evidence of Asymmetric Cost Pass-Through of EU Emissions Allowances: Examining Wholesale Electricity Prices in Germany ,"
Working Papers
0710, Massachusetts Institute of Technology, Center for Energy and Environmental Policy Research.
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Other versions: John Michael Ian S. Salas, 2002.
"Price Adjustments and Asymmetry in the Philippine Retail Gasoline Market ,"
Industrial Organization
0209001, EconWPA.
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Mario Denni & G. Frewer, 2006.
"New evidence on the relationship beetween crude oil and petroleum product prices ,"
Departmental Working Papers of Economics - University 'Roma Tre'
0061, Department of Economics - University Roma Tre.
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Arturo Vasquez Cordano, 2005.
"Price-Response Asymmetry In Domestic Wholesale And Retail Diesel 2 Markets In Peru ,"
Industrial Organization
0512005, EconWPA.
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Marzio Galeotti & Alessandro Lanza & Matteo Manera, 2001.
"Rockets and feathers revisited: an international comparison on European gasoline markets ,"
Working Paper CRENoS
200112, Centre for North South Economic Research, University of Cagliari and Sassari, Sardinia.
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Other versions: Wlaslowski, Szymon & Binner, Jane & Guiletti, Monica & Joseph, Nathan & Nilsson, Birger, 2007.
"New York mark-ups on petroleum products ,"
Working Papers
2008:2, Lund University, Department of Economics.
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Rebeca Jiménez-Rodríguez & Marcelo Sánchez, 2004.
"Oil price shocks and real GDP growth: empirical evidence for some OECD countries ,"
Working Paper Series
362, European Central Bank.
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Michael C. Davis & James D. Hamilton, 2003.
"Why Are Prices Sticky? The Dynamics of Wholesale Gasoline Prices ,"
NBER Working Papers
9741, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted)
Other versions: Axel Dreher & Tim Krieger, 2007.
"Diesel price convergence and mineral oil taxation in Europe ,"
Working Papers
5, University of Paderborn, CIE Center for International Economics.
[Downloadable!]
Other versions: Michael Noel, 2007.
"Do Gasoline Prices Resond Asymmetrically to Cost Shocks? The Confounding Effect of Edgeworth Cycles ,"
University of California at San Diego, Economics Working Paper Series
2007-04, Department of Economics, UC San Diego.
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Nigel Driffield & Christos Ioannidis & David Peel, 2003.
"Some Further Empirical Evidence on the Impact of Oil Price Changes on Petrol Prices ,"
International Journal of the Economics of Business ,
Taylor and Francis Journals, vol. 10(2), pages 195-203, July.
[Downloadable!] (restricted)
Michael C. Davis, 2007.
"The dynamics of daily retail gasoline prices ,"
Managerial and Decision Economics ,
John Wiley & Sons, Ltd., vol. 28(7), pages 713-722.
[Downloadable!]
Stanislav Radchenko, 2004.
"Anticipated and unanticipated effects of crude oil prices and oil inventory changes on gasoline prices ,"
Microeconomics
0406001, EconWPA.
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Markus Arpa & Jesus Crespo Cuaresmo & Ernest Gnan & Maria Antoinette Silgoner, 2006.
"Oil Price Shock, Energy Prices and Inflation — A Comparison of Austria and the EU ,"
Monetary Policy & the Economy ,
Oesterreichische Nationalbank (Austrian Central Bank), issue 1, pages 53-77, May 2006.
[Downloadable!]
Rebeca Jiménez-Rodríguez & Marcelo Sánchez, 2005.
"Oil price shocks and real GDP growth: empirical evidence for some OECD countries ,"
Applied Economics ,
Taylor and Francis Journals, vol. 37(2), pages 201-228, February.
[Downloadable!] (restricted)
Wlazlowski, Szymon & Binner, Jane & Giulietti, Monica & Joseph, Nathan, 2006.
"Non-linearities in mark-up on costs ,"
MPRA Paper
1468, University Library of Munich, Germany.
[Downloadable!]
Stephen P. A. Brown & Mine K. Yücel, 2000.
"Gasoline and crude oil prices: why the asymmetry? ,"
Economic and Financial Policy Review ,
Federal Reserve Bank of Dallas, issue Q3, pages 23-29.
[Downloadable!]
Lance J. Bachmeier & James M. Griffin, .
"New Evidence on Asymmetric Gasoline Price Responses ,"
Working Papers
0208, East Carolina University, Department of Economics.
[Downloadable!]
B Bhaskara Rao & Gyaneshwar Rao, 2005.
"Crude Oil and Gasoline Prices in Fiji: Is the Relationship Asymmetric? ,"
Microeconomics
0510004, EconWPA.
[Downloadable!]
Stephen P. A. Brown & Mine K. Yücel, 2001.
"Energy prices and aggregate economic activity: an interpretive survey ,"
Working Papers
0102, Federal Reserve Bank of Dallas.
[Downloadable!]
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