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Nationale und internationale Bestimmungsfaktoren der schweizerischen Mineralölpreise:

  • Gebhard Kirchgässner

This paper investigates how Swiss consumer prices for gasoline and light heating oil react to changes in corresponding Rotterdam prices and tax rates. Monthly data from January 1977 to June 1993 are employed. After using unit root, Granger causality and cointegration tests error correction models are estimated to seperate long-run equilibrium relations from short-run adjustment processes. Only the Rotterdam prices and the tax rates have a long-run influence on Swiss consumer prices. Changes of the crude oil price have at best a short-run impact. However, tax changes and - with respect to heating oil - also Rotterdam price changes are transferred to more than 100 percent. This might indicate that Swiss mineral oil markets are not fully contested.

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Article provided by Swiss Society of Economics and Statistics (SSES) in its journal Swiss Journal of Economics and Statistics.

Volume (Year): 130 (1994)
Issue (Month): III (September)
Pages: 575-598

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Handle: RePEc:ses:arsjes:1994-iii-19
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  1. Rotemberg, Julio J & Saloner, Garth, 1987. "The Relative Rigidity of Monopoly Pricing," American Economic Review, American Economic Association, vol. 77(5), pages 917-26, December.
  2. Gebhard Kirchgässner, 1987. "Zur Anpassung der schweizerischen Mineralölpreise an die internationale Entwicklung. Empirische Tests einiger Hypothesen," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 123(II), pages 123-146, June.
  3. Bird, Peter J. W. N., 1987. "Continuity and reversal in oil spot price movements," Energy Economics, Elsevier, vol. 9(2), pages 73-81, April.
  4. Dickey, David A & Fuller, Wayne A, 1981. "Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root," Econometrica, Econometric Society, vol. 49(4), pages 1057-72, June.
  5. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
  6. Osterwald-Lenum, Michael, 1992. "A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 54(3), pages 461-72, August.
  7. Johansen, S., 1991. "A Statistical Analsysis of Cointegration for I(2) Variables," Papers 77, Helsinki - Department of Economics.
  8. Kirchgassner, Gebhard & Kubler, Knut, 1992. "Symmetric or asymmetric price adjustments in the oil market : An empirical analysis of the relations between international and domestic prices in the Federal Republic of Germany, 1972-1989," Energy Economics, Elsevier, vol. 14(3), pages 171-185, July.
  9. Breusch, Trevor S & Wickens, Michael R., 1987. "Dynamic Specification, the Long Run and the Estimation of Transformed Regression Models," CEPR Discussion Papers 154, C.E.P.R. Discussion Papers.
  10. Engle, Robert F. & Yoo, Byung Sam, 1987. "Forecasting and testing in co-integrated systems," Journal of Econometrics, Elsevier, vol. 35(1), pages 143-159, May.
  11. Baumol, William J, 1982. "Contestable Markets: An Uprising in the Theory of Industry Structure," American Economic Review, American Economic Association, vol. 72(1), pages 1-15, March.
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