Wlaslowski, Szymon () (Aston Business School) Binner, Jane () (Aston Business School) Guiletti, Monica () (Aston Business School) Joseph, Nathan () (Aston Business School) Nilsson, Birger () (Department of Economics, Lund University)
Abstract
This paper analyzes rigidities in the behavior of mark-up on petroleum products in the New York area using a new set of high-frequency data. We use a methodology that accounts both for deterministic and stochastic nature of petrol prices. The results indicate that the adjustment to the long run equilibrium mark-up is non-linear with adjustment speeds that are equal across regimes for two out of the three series analyzed. For one of the series the adjustment is beneficial for end consumers as we find that prices fall faster than they rise.
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Publisher Info
Paper provided by Lund University, Department of Economics in its series Working Papers with number
2008:2.
Length: 35 pages Date of creation: 06 Aug 2007 Date of revision: Handle: RePEc:hhs:lunewp:2008_002
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