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Oil Prices, Gasoline Prices and Inflation Expectations : A New Model and New Facts
Kilian, Lutz - 2020
The conventional wisdom that inflation expectations respond to the level of the price of oil (or the price of gasoline … support for the conventional wisdom. Using a new structural vector regression model, however, we demonstrate that gasoline … explained by a large increase in gasoline prices. However, on average, gasoline price shocks account for only 39% of the …
Persistent link: https://www.econbiz.de/10012824581
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Algorithmic Pricing and Competition : Empirical Evidence from the German Retail Gasoline Market
Assad, Stephanie - 2020
competition. In this paper we provide the first empirical analysis of this relationship. We study Germany's retail gasoline market …
Persistent link: https://www.econbiz.de/10012824575
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Energy Markets and Global Economic Conditions
Baumeister, Christiane - 2020
This paper evaluates alternative indicators of global economic activity and other market fundamentals in terms of their usefulness for forecasting real oil prices and global petroleum consumption. We find that world industrial production is one of the most useful indicators that has been...
Persistent link: https://www.econbiz.de/10012834350
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Heterogeneity in the Pass-Through from Oil to Gasoline Prices : A New Instrument for Estimating the Price Elasticity of Gasoline Demand
Kilian, Lutz; Zhou, Xiaoqing - 2023
We propose a new instrument for estimating the price elasticity of gasoline demand that exploits systematic differences … across U.S. states in the pass-through of oil price shocks to retail gasoline prices. We show that these differences are … primarily driven by the cost of producing and distributing gasoline, which varies with states’ access to oil and gasoline …
Persistent link: https://www.econbiz.de/10014358334
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Optimal taxation of externalities interacting through markets: A theoretical general equilibrium analysis
Ren, Xiaolin; Fullerton, Don; Braden, John B. - 2010
This study develops a theoretical general equilibrium model to examine optimal externality tax policy in the presence of externalities linked to one another through markets rather than technical production relationships. Analytical results reveal that the second-best externality tax rate may be...
Persistent link: https://www.econbiz.de/10010274742
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Does a renewable fuel standard for biofuels reduce climate costs?
Greaker, Mads; Hoel, Michael; Rosendahl, Knut Einar - 2012
Recent contributions have questioned whether biofuels policies actually lead to emissions reductions, and thus lower climate costs. In this paper we make two contributions to the literature. First, we study the market effects of a renewable fuel standard. Opposed to most previous studies we...
Persistent link: https://www.econbiz.de/10010291541
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EU-type carbon emissions trade and the distributional impact of overlapping emissions taxes
Eichner, Thomas; Pethig, Rüdiger - 2009
The European Union fulfills its emissions reductions commitments by means of an emissions trading scheme covering some part of each member state's economy and by national emissions control in the rest of their economies. The member states also levy energy/emissions taxes overlapping with the...
Persistent link: https://www.econbiz.de/10010264583
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International carbon emissions trading and strategic incentives to subsidize green energy
Eichner, Thomas; Pethig, Rüdiger - 2010
This paper examines strategic incentives to subsidize green energy in a group of countries that operates an international carbon emissions trading scheme. Welfare-maximizing national governments have the option to discriminate against energy from fossil fuels by subsidizing green energy,...
Persistent link: https://www.econbiz.de/10010270484
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Green serves the dirtiest : on the interaction between Black and Green Quotas
Böhringer, Christoph; Rosendahl, Knut Einar - 2009
Tradable black (CO2) and green (renewables) quotas gain in popularity and stringency within climate policies of many OECD countries. The overlapping regulation through both instruments, however, may have important adverse economic implications. Based on stylized theoretical analysis and...
Persistent link: https://www.econbiz.de/10010271859
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What Can We Learn from EU ETS?
Vollebergh, Herman R.J. - 2020
This paper discusses lessons that other regions could learn from European Union's effort to implement carbon pricing through EU Emission Trading System (EU ETS). Our lessons are, first of all, that a cap-and-trade system like EU ETS is very helpful in guaranteeing a credible and binding...
Persistent link: https://www.econbiz.de/10012836008