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 …

We reinvestigate the "rockets and feathers" effect between retail gasoline and crude oil prices in a new framework of … complicated time series characteristics. On the dataset of seven national gasoline prices, we find no statistically significant … asymmetry. The proposed methodology is not limited to the gasoline and crude oil case but it can be utilized for any asymmetric …

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 …

The pricing mechanism in the gasoline market has often been the subject of public debate in Greece during the crisis … inefficient pricing, is by testing for asymmetries in the adjustment of domestic gasoline prices to world oil price changes. The … present paper tests for asymmetric adjustment of gasoline prices to oil price variations in the Greek market and examines …