Journal ArticleDOI
Symmetric or asymmetric price adjustments in the oil market
Gebhard Kirchgässner,Knut Kübler +1 more
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In this article, the authors investigated how German consumer and wholesale prices for gasoline and light heating oil react to changes in the corresponding Rotterdam prices, and they found rapid, symmetric and full adjustment of the German prices to the corresponding Dutch prices, whereas during the 1970s the adjustment processes took considerably more time.About:
This article is published in Energy Economics.The article was published on 1992-07-01. It has received 95 citations till now.read more
Citations
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Journal ArticleDOI
Econometric Models of Asymmetric Price Transmission
TL;DR: This paper reviewed the existing empirical literature on price asymmetries in commodities, providing a way to classify and compare different studies which are highly heterogeneous in terms of econometric models and empirical findings.
Posted ContentDOI
On the Political Economy of Environmental Policy
TL;DR: In this paper, the use of market based instruments in environmental policy has not increased very much and their impact on the actual situation is still rather low, but there is hope of at least some increase in the future.
Journal ArticleDOI
Econometric models of asymmetric price transmission
Giliola Frey,Matteo Manera +1 more
TL;DR: In this article, a survey of the existing empirical contributions on price asymmetries in the transmission mechanism linking input prices to output prices is presented, providing a way to classify and compare different studies that are highly heterogeneous in terms of econometric models and empirical findings.
Journal ArticleDOI
Testing for asymmetric pricing in the Canadian retail gasoline market
TL;DR: In this paper, the authors apply a threshold regression model to test for asymmetric pricing in the retail gasoline market in Canada, using weekly data for the period January 1990 to December 1996, and present results for 13 Canadian cities for both premium and regular gasoline.
Journal ArticleDOI
Rockets and feathers revisited: an international comparison on European gasoline markets
TL;DR: In this paper, the issue of asymmetries in the transmission of shocks to crude oil prices onto the retail price of gasoline was re-examine, and the results generally point to widespread differences in both adjustment speeds and short-run responses when input prices rise or fall.
References
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Journal ArticleDOI
Co-integration and Error Correction: Representation, Estimation and Testing
TL;DR: The relationship between co-integration and error correction models, first suggested in Granger (1981), is here extended and used to develop estimation procedures, tests, and empirical examples.
Journal ArticleDOI
Distribution of the Estimators for Autoregressive Time Series with a Unit Root
David A. Dickey,Wayne A. Fuller +1 more
TL;DR: In this article, the limit distributions of the estimator of p and of the regression t test are derived under the assumption that p = ± 1, where p is a fixed constant and t is a sequence of independent normal random variables.
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Investigating Causal Relations by Econometric Models and Cross-Spectral Methods
TL;DR: In this article, the cross spectrum between two variables can be decomposed into two parts, each relating to a single causal arm of a feedback situation, and measures of causal lag and causal strength can then be constructed.
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Likelihood ratio statistics for autoregressive time series with a unit root
David A. Dickey,Wayne A. Fuller +1 more
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Macroeconomics and reality
TL;DR: In this article, the authors argue that the style in which their builders construct claims for a connection between these models and reality is inappropriate, to the point at which claims for identification in these models cannot be taken seriously.