Crude Oil and Gasoline Prices in Fiji: Is the Relationship Asymmetric?
AbstractThis paper tests and confirms asymmetry in the Fiji gasoline price adjustment equations with respect to changes in the crude oil prices. More satisfactory specifications and estimation are used than in the earlier studies. It is found that two alternative approaches viz., the Granger two-step and the LSE-Hendry general to specific approaches, give similar results. Our results show that oil firms in Fiji seem to adjust gasoline prices twice faster than decrease them.
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Bibliographic InfoPaper provided by EconWPA in its series Microeconomics with number 0510004.
Length: 20 pages
Date of creation: 05 Oct 2005
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Note: Type of Document - pdf; pages: 20
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Crude Oil and Gasoline Prices; Asymmetric Price Response; Rockets and Feathers Hypothesis; Granger Two-Step Estimation; the LSE- Hendry General to Specific Approach.;
Find related papers by JEL classification:
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- C8 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs
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