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    Rights statement: This is the author’s version of a work that was accepted for publication in Energy Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Energy Economics, 56, 2016 DOI: 10.1016/j.eneco.2016.04.004

    Accepted author manuscript, 229 KB, PDF document

    Available under license: CC BY-NC-ND: Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License

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An alternative semiparametric approach to the modelling of asymmetric gasoline price adjustment

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Published
<mark>Journal publication date</mark>05/2016
<mark>Journal</mark>Energy Economics
Volume56
Number of pages5
Pages (from-to)384-388
Publication StatusPublished
Early online date11/04/16
<mark>Original language</mark>English

Abstract

In this paper we revisit the wholesale and retail gasoline price adjustments to fluctuations in the input cost prices for a monthly panel dataset of 48 U.S. states over the period 1994 to 2011. In doing so, we employ non-linear semiparametric models with local Generalized Method of Moments (GMM) estimators. Our findings indicate that wholesale and retail gasoline prices adjust more rapidly in an upward than a downward direction, confirming the “rockets and feathers” hypothesis.

Bibliographic note

This is the author’s version of a work that was accepted for publication in Energy Economics. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Energy Economics, 56, 2016 DOI: 10.1016/j.eneco.2016.04.004

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