Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for … the past several decades have changed the responsiveness of U.S. consumers to changes in gasoline prices. In this paper …, we compare the price and income elasticities of gasoline demand in two periods of similarly high prices from 1975 to 1980 …

consumers, across ethanol and gasoline at the pump. We show that the model stands up well to the empirical covariation in prices … prices, thanks to substitution in demand (gasoline and ethanol) and in supply (sugar and ethanol). -- Ethanol ; gasoline … ; sugar ; biofuels ; food prices ; commodity prices ; food-versus-fuel debate ; arbitrage ; export price floor ; price …

markets in the U.S. and worldwide. The cycles can give the appearance of asymmetric prices responses to cost shocks under …