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This paper examines the effect of anticipated and unanticipated changes in oil prices and gasoline inventory on US gasoline prices. We estimate empirical responses to anticipated and unanticipated changes in oil prices and gasoline inventory and show that gasoline price adjustments are faster...
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This paper examines recent evidence on the role that gasoline margins and volatility play in the asymmetric response of gasoline prices to changes in oil prices at different stages of distribution process. In a regression model with margins, we find that margins are statistically significant in...
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This paper analyzes the effect of volatility in oil prices on the degree of asymmetry in the response of gasoline prices to oil price increases and decreases. Several time series measures of the asymmetry between the responses of gasoline prices to oil price increases and decreases and several...
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Using weekly data for the period March 1991 to August 2002, we estimate the response of retail gasoline prices to changes in crude oil and spot gasoline prices in the US allowing for a possibility of two types of cost shocks to the gasoline market: long-term and short-term shocks. Our conclusion...
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