Driffield, Nigel; Ioannidis, Christos; Peel, David - In: International Journal of the Economics of Business 10 (2003) 2, pp. 195-203
This paper analyses the asymmetries in the response of petrol prices to oil price shocks. We show that previous work, based on the determination of asymmetric responses, can be improved upon by allowing for asymmetries in short term dynamics. The paper shows that a significant determinant of the...