The DOI matches its Crossref record.
Do Gasoline Prices Respond Asymmetrically to Crude Oil Price Changes?
Abstract
We test and confirm that retail gasoline prices respond more quickly to increases than to decreases in crude oil prices. Among the possible sources of this asymmetry are production/inventory adjustment lags and market power of some sellers. By analyzing price transmission at different points in the distribution chain, we attempt to shed light on these theories. Spot prices for generic gasoline show asymmetry in responding to crude oil price changes, which may reflect inventory adjustment effects. Asymmetry also appears in the response of retail prices to wholesale price changes, possibly indicating short-run market power among retailers.
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Cited by
Modelling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework
Shin, Y., Yu, B., & Greenwood-Nimmo, M. (2014) · Festschrift in Honor of Peter Schmidt · doi:10.1007/978-1-4899-8008-3_9 · Cited by 3,835
Price Transmission in Agricultural Markets
von Cramon-Taubadel, S., & Goodwin, B. K. (2021) · Annual Review of Resource Economics · doi:10.1146/annurev-resource-100518-093938 · Cited by 75
Understanding the Competitiveness Implications of Future Phases of EU ETS on the Industrial Sectors
Oberndorfer, U., Alexeeva-Talebi, V., & Löschel, A. (2010) · doi:10.2139/ssrn.1649445 · Cited by 21
Asymmetric transmission between factory and wholesale prices in fiberboard market in Korea
Ahn, B.-I., & Lee, H. (2013) · Journal of Forest Economics · doi:10.1016/j.jfe.2012.06.008 · Cited by 8
ASYMMETRIC PRICING AND AIRLINE PERFORMANCE
Jiang, Y., & Que, T. (2022) · Applied Finance Letters · doi:10.24135/afl.v11i.522 · Cited by 1
Metadata
- Authors
- Borenstein, S., Cameron, A. C., & Gilbert, R.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1997-02-01
- Volume
- 112
- Issue
- 1
- Pages
- 305-339
- ISSN
- 0033-5533 (ISSN-L)
- 1531-4650
- OpenAlex
- W2161409011
- Cited by
- 1,025
- References
- 0
- FWCI
- 20.92
- Type
- journal article
- Language
- en
- Open access
- closed
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