Least-squares estimates of the response of gasoline consumption to a change in the gasoline price are biased toward … 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 …

Traditional least squares estimates of the responsiveness of gasoline consumption to changes in gasoline prices are … biased toward 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 …

estimate the market's expectations of the prices of ethanol, unfinished motor gasoline and crude oil at horizons from three …

estimate the market’s expectations of the prices of ethanol, unfinished motor gasoline and crude oil at horizons from three …

Least-squares estimates of the response of gasoline consumption to a change in the gasoline price are biased toward … 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 …

gasoline used to operate a vehicle, electricity to light a home, or natural gas to heat a home. At other times, the cost of … pass-through of the price of crude oil or the price of motor gasoline to U.S. inflation. Neither approach accounts for the … headline and core CPI inflation. Our analysis confirms that focusing on gasoline price shocks alone will underestimate the …