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We examine the competitive effects of the vertical integration of gasoline refineries and retailers in the U …. Vertical foreclosure is found to increase the wholesale price of refined gasoline by 0.2 to 0.6 cents per gallon. -- vertical …
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In the data, a sizable fraction of price changes are temporary price reductions referred to as sales. Existing models include no role for sales. Hence, when confronted with data in which a large fraction of price changes are sales related, the models must either exclude sales from the data or...
Persistent link: https://www.econbiz.de/10003479621
This paper examines the inflation "pass-through" problem in American monetary policy, defined as the relationship between changes in the growth rates of individual goods and the subsequent economy-wide rate of growth of consumer prices. Granger causality tests robust to structural breaks are...
Persistent link: https://www.econbiz.de/10008840940
the price of crude oil to the price of gasoline is asymmetric. Although there have been many contributions documenting … forecasting performance of econometric models incorporating asymmetric price transmission from crude oil to gasoline. In this …, while the ECM implies symmetric price transmission from crude oil to gasoline. We quantify the forecast accuracy gains due …
Persistent link: https://www.econbiz.de/10010251557
To correct market failures due to the presence of negative externalities associated with energy consumption, governments have adopted a variety of policies, including taxes, subsidies, regulations and standards, and information-based policies. For example, labels that clearly convey energy...
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of gasoline. Relative to the previous literature, the distinguishing features of the present paper are: i) use of updated … and comparable data to carry out an international comparison of gasoline markets; ii) two-stage modeling of the … transmission of oil price shocks to gasoline prices (first refinery stage and second distribution stage), in order to assess …
Persistent link: https://www.econbiz.de/10011596079