Many empirical studies state that retail gasoline and diesel prices react more quickly when the crude oil price rises …. The model allows us to compute average one-gallon gasoline and diesel price biases from the increase in oil by one dollar … gasoline and diesel reaction functions. The correspondent model is estimated with the system's generalised method of moments …

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past … history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that … this prediction is broadly consistent with the behavior of 9 Philadelphia gasoline wholesalers. We nevertheless reject the …

The menu-cost interpretation of sticky prices implies that the probability of a price change should depend on the past … history of prices and fundamentals only through the gap between the current price and the frictionless price. We find that … this prediction is broadly consistent with the behavior of 9 Philadelphia gasoline wholesalers. We nevertheless reject the …

This paper examines empirically the relationship between vertical integration and wholesale gasoline prices. We use … discrete and differential changes in the extent of vertical integration generated by mergers in West Coast gasoline refining … relationship between vertical integration and wholesale prices, controlling for horizontal market structure, cost shocks and trends …