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. Therefore, demand functions for energy and its components like gasoline have received much attention. However, since confidence …), this paper estimates the demand for gasoline is estimated with 6 alternative time series techniques with data from Fiji …Since the early 1970s there has been a worldwide upsurge in the price of energy and in particular of gasoline …
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show the importance of such measurement errors for the estimation of demand in a setting with nonseparable unobserved … group rather than the true individual value. In consumer demand this form of measurement error is present because the price … heterogeneity. We develop a consistent estimator using external information on the true distribution of prices. Examining the demand …
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price as instruments for a country's average gasoline pump price. We obtain estimates of the long-run price elasticity of … gasoline demand of between −0.2 and −0.5. Using newly available data for a sub-sample of 43 countries, we also find that higher … gasoline prices induce consumers to substitute to vehicles that are more fuel-efficient, with an estimated elasticity of 0 …
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Understanding how consumers respond to price increases is key when designing price-related policies. Using microdata on vehicle usage and paid fuel prices, I analyze consumers' response, focusing on three channels of mitigation: distance driven, fuel efficiency, and search. On average, consumers...
Persistent link: https://www.econbiz.de/10014504852
Daily city-level expenditures and prices are used to estimate the price responsiveness of gasoline demand in the U ….S. Using a frequency of purchase model that explicitly acknowledges the distinction between gasoline demand and gasoline … expenditures, we consistently find the price elasticity of demand to be an order of magnitude larger than estimates from recent …
Persistent link: https://www.econbiz.de/10012988518
Daily city-level expenditures and prices are used to estimate the price responsiveness of gasoline demand in the U ….S. Using a frequency of purchase model that explicitly acknowledges the distinction between gasoline demand and gasoline … expenditures, we consistently find the price elasticity of demand to be an order of magnitude larger than estimates from recent …
Persistent link: https://www.econbiz.de/10012456331