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Análisis empírico de la función de demanda por gasolina en Puerto Rico: (1999-2006)
[Empirical analysis of the demand function for gasoline in Puerto Rico: (1999-2006)]

Author

Listed:
  • Rodríguez, Carlos A.

Abstract

This paper makes an empirical analysis to the functional form derived from the demand function for gasoline in Puerto Rico. According to the structure of the gas market in Puerto Rico and the international context, we studied the consumption of gasoline based on an exercise of constrained optimization. The demand function for that model was the basis for the empirical development. According to empirical evidence gasoline consumption has a direct relationship with the price of gasoline, personal income and the number of motor vehicles and a negative relationship with respect to the unemployment rate.

Suggested Citation

  • Rodríguez, Carlos A., 2012. "Análisis empírico de la función de demanda por gasolina en Puerto Rico: (1999-2006)
    [Empirical analysis of the demand function for gasoline in Puerto Rico: (1999-2006)]
    ," MPRA Paper 41273, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:41273
    as

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    File URL: https://mpra.ub.uni-muenchen.de/41273/1/MPRA_paper_41273.pdf
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    References listed on IDEAS

    as
    1. Kwiatkowski, Denis & Phillips, Peter C. B. & Schmidt, Peter & Shin, Yongcheol, 1992. "Testing the null hypothesis of stationarity against the alternative of a unit root : How sure are we that economic time series have a unit root?," Journal of Econometrics, Elsevier, vol. 54(1-3), pages 159-178.
    2. Johansen, Soren & Juselius, Katarina, 1990. "Maximum Likelihood Estimation and Inference on Cointegration--With Applications to the Demand for Money," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 52(2), pages 169-210, May.
    3. Saikkonen, Pentti & Lutkepohl, Helmut, 2000. "Testing for the Cointegrating Rank of a VAR Process with Structural Shifts," Journal of Business & Economic Statistics, American Statistical Association, vol. 18(4), pages 451-464, October.
    4. Ericsson, Neil R., 1992. "Cointegration, exogeneity, and policy analysis: An overview," Journal of Policy Modeling, Elsevier, vol. 14(3), pages 251-280, June.
    5. Johansen, Soren, 1992. "Testing weak exogeneity and the order of cointegration in UK money demand data," Journal of Policy Modeling, Elsevier, vol. 14(3), pages 313-334, June.
    6. Granger, Clive W J, 1986. "Developments in the Study of Cointegrated Economic Variables," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 48(3), pages 213-228, August.
    7. Johansen, Soren, 1988. "Statistical analysis of cointegration vectors," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 231-254.
    8. Marvel, Howard P, 1978. "Competition and Price Levels in the Retail Gasoline Market," The Review of Economics and Statistics, MIT Press, vol. 60(2), pages 252-258, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Fuel consumption; demand function; gasoline market;

    JEL classification:

    • Q41 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Demand and Supply; Prices
    • N7 - Economic History - - Economic History: Transport, International and Domestic Trade, Energy, and Other Services

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