Are Us Gasoline Price Adjustments Asymmetric?
AbstractWe use the LSE-Hendry general to specific approach to analyse if US gasoline price adjustments are asymmetric with respect to changes in crude oil prices. Furthermore, we modify some weaknesses in the earlier works by Boreinstein, Cameron and Gilbert (1997) and Bachmeier and Griffin (2003) and shows that if the price adjustment equations are properly specified and estimated, alternative specifications and temporal aggregation of data do not affect the results. Monthly US data are used to show that alternative specifications give equally good results and there is no asymmetry in the US gasoline price adjustments.
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Bibliographic InfoPaper provided by EconWPA in its series Microeconomics with number 0510001.
Length: 9 pages
Date of creation: 02 Oct 2005
Date of revision:
Note: Type of Document - pdf; pages: 9
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Asymmetric price adjustments; Market power; General to specific approach; Error correction models and Gasoline and crude oil prices;
Other versions of this item:
- P - Economic Systems
- Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics
- Z - Other Special Topics
This paper has been announced in the following NEP Reports:
- NEP-ALL-2005-10-08 (All new papers)
- NEP-COM-2005-10-08 (Industrial Competition)
- NEP-ENE-2005-10-08 (Energy Economics)
- NEP-IND-2005-10-08 (Industrial Organization)
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.:
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The Quarterly Journal of Economics,
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- Karagiannis, Stelios & Panagopoulos, Yannis & Vlamis, Prodromos, 2010. "Interest rate pass-through in Europe and the US: Monetary policy after the financial crisis," Journal of Policy Modeling, Elsevier, vol. 32(3), pages 323-338, May.
- Koutroumanidis, Theodoros & Zafeiriou, Eleni & Arabatzis, Garyfallos, 2009. "Asymmetry in price transmission between the producer and the consumer prices in the wood sector and the role of imports: The case of Greece," Forest Policy and Economics, Elsevier, vol. 11(1), pages 56-64, January.
- Ioanna Reziti & Yannis Panagopoulos, 2008. "Asymmetric price transmission in the greek agri-food sector: some tests," Agribusiness, John Wiley & Sons, Ltd., vol. 24(1), pages 16-30.
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