zero, given the endogeneity of gasoline prices. A seemingly natural solution to this problem is to instrument for gasoline … prices using gasoline taxes, but this approach tends to yield implausibly large price elasticities. We demonstrate that …Least-squares estimates of the response of gasoline consumption to a change in the gasoline price are biased toward …

single destination market. Guided by a simple theoretical framework, we decompose countries. market shares into the … explore some of its determinants. Countries with a larger market size tend to be characterized by a more dispersed …

estimate the market's expectations of the prices of ethanol, unfinished motor gasoline and crude oil at horizons from three … biofuel policies operates in part through market expectations and shifts in storage demand, yet to date it has proved … months to one year. We quantify the extent to which price changes were anticipated by the market, the extent to which they …

employ and limits their emissions based on the permits they hold. Refiners must also produce gasoline that varies in quality … link between gasoline content regulation and the compliance behavior of refineries. We find that in areas with more … stringent gasoline regulation, there was increased compliance on the part of firms. -- Clean Air Act ; compliance behavior …

We study the efficacy of releases from the U.S. Strategic Petroleum Reserve (SPR) within the context of fully specified … models of the global oil market that explicitly allow for storage demand as well as unanticipated changes in the SPR. Using … creation and expansion of the SPR contribute to higher real oil prices? Finally, how much would selling half of the oil in the …

find that the only significant relationship implies the existence of a lagged effect of prices on output in the case of the …