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 …

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 … 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 …

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 …