dc.contributor |
Universitat Rovira i Virgili. Departament d'Economia |
dc.contributor |
Universitat Rovira i Virgili. Centre de Recerca en Economia Industrial i Economia Pública |
dc.contributor.author |
Lovcha, Yuliya |
dc.contributor.author |
Pérez Laborda, Àlex |
dc.date.accessioned |
2016-05-05T17:44:59Z |
dc.date.available |
2016-05-05T17:44:59Z |
dc.date.created |
2016 |
dc.date.issued |
2016 |
dc.identifier.uri |
http://hdl.handle.net/2072/261538 |
dc.format.extent |
26 p. |
dc.language.iso |
eng |
dc.publisher |
Universitat Rovira i Virgili. Departament d'Economia |
dc.relation.ispartofseries |
Documents de treball del Departament d'Economia;2016-10 |
dc.rights |
info:eu-repo/semantics/openAccess |
dc.rights |
L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons: http://creativecommons.org/licenses/by-nc-nd/3.0/es/ |
dc.source |
RECERCAT (Dipòsit de la Recerca de Catalunya) |
dc.subject.other |
Gasolina |
dc.subject.other |
Oferta i demanda |
dc.subject.other |
Sèries temporals -- Anàlisi |
dc.title |
Structural shocks and dinamic elasticities in a long memory model of the US gasoline retail market |
dc.type |
info:eu-repo/semantics/workingPaper |
dc.subject.udc |
33 - Economia |
dc.embargo.terms |
cap |
dc.description.abstract |
A structural multivariate long memory model of the US gasoline market is
employed to disentangle structural shocks and to estimate the own-price elasticity of
gasoline demand. Our main empirical findings are: 1) there is strong evidence of nonstationarity
and mean-reversion in the real price of gasoline and in gasoline
consumption; 2) accounting for the degree of persistence present in the data is essential
to assess the responses of these two variables to structural shocks; 3) the contributions
of the different supply and demand shocks to fluctuations in the gasoline market vary
across frequency ranges; and 4) long memory makes available an interesting range of
convergent possibilities for gasoline demand elasticities. Our estimates suggest that
after a change in prices, consumers undertake a few measures to reduce consumption in
the short- and medium-run but are reluctant to implement major changes in their
consumption habits.
Keywords: fractional integration, gasoline demand, price elasticity, structural model
Classification: Q41, Q43, C32 |