We attempt to consolidate (at least in part) the vast literature on oil shocks and stock returns by decomposing the influence of oil shocks into two channels of effect: ‘direct’ and ‘indirect’. Using a simple empirical asset pricing model it is shown that oil shocks can affect stocks not...

Energy demand functions based on Koyck lag transformation result in an MA error process that is generally ignored in estimated panel data models. This note explores the implications of this assumption by estimating panel energy demand functions with asymmetric price responses and an MA process...

This study explores patterns in the voluntary disclosure of greenhouse gas (GHG) emissions and empirical relationships between GHG emissions and an extensive range of business performance measures for UK FTSE-350 listed firms over the first decade of such reporting and highlighting the level of...

This paper explores the relative importance of factors other than price and income in explaining gasoline demand in Greece between 1978 and 2008. Using a structural time series model (STSM) the long-run elasticities of income and price are 0.45 and -0.32 respectively. Further, it is shown using...

The demand for energy is not simply a function of price and income, but can be shown also to be a function also of the underlying energy demand trend (UEDT). The UEDT captures behavioural responses to non-fiscal instruments, including technological change, but also encapsulating attitudinal...

The aim of this paper is to (i) establish the role of asymmetric price decompositions in UK road transportation fuel demand, (ii) make explicit the impact of the underlying energy demand trend and (iii) disaggregate the estimation for gasoline and diesel demand as separate commodities. Dynamic...

This paper attempts to quantify the impact of exogenous non-economic factors on UK transport oil demand (in addition to income, price, and fuel efficiency) by estimating the demand relationship for oil transport for 1960-2007 using the Structural Time Series Model. From this, the relative impact...

This study contributes another route towards explaining and tackling ‘food desert’ effects. It features the estimation of a (semi-parametric) trip attraction model for food superstores in the UK using a composite dataset. The data comprises information from the UK Census of Population, the...

A number of energy demand studies have considered the importance of modelling Asymmetric Price Responses (APR), for example, the often-cited work of Gately and Huntington (2002). Griffin and Schulman (2005) questioned the asymmetric approach arguing that this is only capturing energy saving...

In this paper it is shown that the relative demands for UK Gasoline and Diesel fuels are price responsive. Given differing emissions based externalities from these two fuel types, it is contended that discriminatory fuel duty might be a means to reduce these externalities. Results are derived...