Petrol Price Asymmetries Revisited
AbstractAn error correction model is fitted to monthly data on net retail prices for the United Kingdom over the period January 1982 to June 1995 in order to examine the short-run response of retail petrol prices to changes in input costs and the exchange rate. The hypothesis of a symmetric response by petrol retailers to crude price rises and falls is rejected by the data over the period examined. A similar hypothesis in regard to the exchange rate is also rejected by the data.
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Bibliographic InfoPaper provided by Surrey Energy Economics Centre (SEEC), School of Economics, University of Surrey in its series Surrey Energy Economics Centre (SEEC), School of Economics Discussion Papers (SEEDS) with number 89.
Length: 28 pages
Date of creation: Aug 1996
Date of revision:
Petrol prices; Asymmetry; Exchange rate.;
Other versions of this item:
- D40 - Microeconomics - - Market Structure and Pricing - - - General
- Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
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"The Power of Cointegration Tests,"
Open Access publications from Universidad Carlos III de Madrid
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