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New York mark-ups on petroleum products

Författare:
  • Szymon Wlazlowski
  • Birger Nilsson
  • Jane Binner
  • Monica Giulietti
  • Nathan Joseph
Publiceringsår: 2012
Språk: Engelska
Sidor: 145-171
Publikation/Tidskrift/Serie: The Manchester School
Volym: 80
Nummer: 2
Dokumenttyp: Artikel
Förlag: Wiley-Blackwell

Sammanfattning

This paper analyzes rigidities in the behavior of the mark-up on regular, midgrade and premium varieties of petrol in the New York area using a set of weekly frequency data and a methodology that analyzes the pricing process using deterministic and stochastic techniques. The results are consistent across methodologies and indicate that the speeds of adjustment to the long run equilibrium mark-up differ across varieties of petrol with margins of the premium variety falling faster than they rise, contrary to the popular claim of welfare-decreasing asymmetries in price transmission.

Disputation

Nyckelord

  • Business and Economics
  • Asymmetric Price Transmission
  • Petroleum
  • Markov Switching model
  • SETAR model

Övriga

Published
Yes
  • ISSN: 1463-6786

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