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Crude Oil and Gasoline Prices in Fiji: Is the Relationship Asymmetric?

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Author Info
B Bhaskara Rao (University of the South Pacific)
Gyaneshwar Rao (University of the South Pacific)

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Abstract

This 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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Paper provided by EconWPA in its series Microeconomics with number 0510004.

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Length: 20 pages
Date of creation: 05 Oct 2005
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Handle: RePEc:wpa:wuwpmi:0510004

Note: Type of Document - pdf; pages: 20
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Web page: http://129.3.20.41

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Related research
Keywords: Crude Oil and Gasoline Prices Asymmetric Price Response Rockets and Feathers Hypothesis Granger Two-Step Estimation the LSE- Hendry General to Specific Approach.

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Find related papers by JEL classification:
C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: 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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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.:
  1. Lance J. Bachmeier & James M. Griffin, 2003. "New Evidence on Asymmetric Gasoline Price Responses," The Review of Economics and Statistics, MIT Press, vol. 85(3), pages 772-776, 05. [Downloadable!] (restricted)
  2. Nathan S. Balke & Stephen P. A. Brown & Mine Yücel, 1998. "Crude oil and gasoline prices: an asymmetric relationship?," Economic and Financial Policy Review, Federal Reserve Bank of Dallas, issue Q 1, pages 2-11. [Downloadable!]
  3. Kevin D. Hoover & Stephen J. Perez, . "Data Mining Reconsidered: Encompassing And The General-To-Specific Approach To Specification Search," Department of Economics 97-27, California Davis - Department of Economics. [Downloadable!]
    Other versions:
  4. Borenstein, Severin & Cameron, A Colin & Gilbert, Richard, 1997. "Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 305-39, February.
    Other versions:
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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.)

  1. B Bhaskara Rao & Gyaneshwar Rao, 2005. "Are Us Gasoline Price Adjustments Asymmetric?," Microeconomics 0510001, EconWPA. [Downloadable!]
    Other versions:
  2. Rao, Gyaneshwar, 2008. "The Relationship between Crude and Refined Product Market: The Case of Singapore Gasoline Market using MOPS Data," MPRA Paper 7579, University Library of Munich, Germany. [Downloadable!]
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