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Author: Matteo Manera
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
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This paper re-examines the issue of asymmetries in the transmission of shocks to crude oil prices onto the retail price of gasoline. Relative to the previous literature, the distinguishing features of the present paper are: i) use of updated and comparable data to carry out an international comparison of gasoline markets; ii) two-stage modeling of the transmission of oil price shocks to gasoline prices (first refinery stage and second distribution stage), in order to assess possible asymmetries at either one or both stages; iii) use of asymmetric error correction models to distinguish between asymmetries that arise from short-run deviations in input prices and from the speed at which the gasoline price reverts to its long-run level; iv) explicit, possibly asymmetric, role of the exchange rate, as crude oil is paid for in dollars whereas gasoline sells for different sums of national currencies; v) bootstrapping of F tests of asymmetries, in order to overcome the low-power problem of conventional testing procedures. In contrast to several previous findings, the results generally point to widespread differences in both adjustment speeds and short-run responses when input prices rise or fall.
Author: Matteo Manera
Publisher:
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
This paper re-examines the issue of asymmetries in the transmission of shocks to crude oil prices onto the retail price of gasoline. Relative to the previous literature, the distinguishing features of the present paper are: i) use of updated and comparable data to carry out an international comparison of gasoline markets; ii) two-stage modeling of the transmission of oil price shocks to gasoline prices (first refinery stage and second distribution stage), in order to assess possible asymmetries at either one or both stages; iii) use of asymmetric error correction models to distinguish between asymmetries that arise from short-run deviations in input prices and from the speed at which the gasoline price reverts to its long-run level; iv) explicit, possibly asymmetric, role of the exchange rate, as crude oil is paid for in dollars whereas gasoline sells for different sums of national currencies; v) bootstrapping of F tests of asymmetries, in order to overcome the low-power problem of conventional testing procedures. In contrast to several previous findings, the results generally point to widespread differences in both adjustment speeds and short-run responses when input prices rise or fall.
Author: Marzio Galeotti
Publisher:
ISBN:
Category : Environmental policy
Languages : en
Pages : 25
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Author: Emmanuel Asane-Otoo
Publisher:
ISBN:
Category :
Languages : en
Pages :
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In this paper, we revisit the empirical observation that prices rise like rockets when input costs increase but fall like feathers when input costs decrease. The analysis draws on a novel dataset that include daily retail prices of gasoline and diesel from virtually all fuel stations in Germany over the period from January 1, 2014 to December 31, 2018. Our findings from the national, state-specific and station-level analyses based on an asymmetric error correction model indicate that asymmetric pricing is the norm rather than exception. Specifically, we find empirical evidence that points to a pervasive rockets-and-feathers pattern. We also find that asymmetric pricing in the German retail fuel market might partly be the consequence of tacit collusion among competitors as well as disparate search intensity on the part of consumers. We further show that temporal aggregation of station-level price data might lead to inaccurate inferences and could account for the contradictory findings in the extant literature.
Author:
Publisher: DIANE Publishing
ISBN: 1422333043
Category :
Languages : en
Pages : 355
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Author: Takao Terano
Publisher: Springer Science & Business Media
ISBN: 9784431265924
Category : Business & Economics
Languages : en
Pages : 270
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Book Description
Agent-based modeling/simulation is an emerging field that uses bottom-up and experimental analysis in the social sciences. Selected research from that presented at the Third International Workshop on Agent-Based Approaches in Economic and Social Complex Systems 2004, held in May 2004 in Kyoto, Japan, is included in this book. The aim of the workshop was to employ the bottom-up approach to social and economic problems by modeling, simulation, and analysis using a software agent. This research area is an emerging interdisciplinary field among the social sciences and computer science, attracting broad attention because it introduces a simulation-based experimental approach to problems that are becoming increasingly complex in an era of globalization and innovation in information technology. The state-of-the-art research and findings presented in this book will be indispensable tools for anyone involved in this rapidly growing discipline.
Author: Salvatore Ingrassia
Publisher: Springer Science & Business Media
ISBN: 364211363X
Category : Mathematics
Languages : en
Pages : 576
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Book Description
This volume provides recent research results in data analysis, classification and multivariate statistics and highlights perspectives for new scientific developments within these areas. Particular attention is devoted to methodological issues in clustering, statistical modeling and data mining. The volume also contains significant contributions to a wide range of applications such as finance, marketing, and social sciences. The papers in this volume were first presented at the 7th Conference of the Classification and Data Analysis Group (ClaDAG) of the Italian Statistical Society, held at the University of Catania, Italy.
Author: United States. Congress. Senate. Committee on Environment and Public Works
Publisher:
ISBN:
Category : Political Science
Languages : en
Pages : 360
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Author: Emek Basker
Publisher: Edward Elgar Publishing
ISBN: 1783477385
Category : Business & Economics
Languages : en
Pages : 513
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Book Description
This Handbook explores and critically examines current research in economics and marketing science on key issues in retailing and distribution. Providing a rich perspective for the discussion of public policy, contributions from several disciplines and continents range from the history of chains and the impact of multinational retailers on international trade patterns to US merger policy in the retail context, the rise of the Internet, and consumer-to-consumer sales. The chapters address methodological issues such as the structural estimation of entry games between retailers, productivity measurement when both inputs and output are not fully observable, and demand estimation with variable assortment. Policy issues explored include mergers, zoning, and the regulation of buyer power, while other chapters address some of the recent exciting developments in technology, retail formats, and data availability. The book goes on to study the changes in online retailing and ‘big data’, and to examine competition in specific retail sectors including gasoline stations, automobile dealerships, supermarkets, and ‘big box’ retail. This state-of-the-art Handbook is an essential reference for students and academics of economics and marketing science, and offers an outsider’s perspective to specialists in operations research, data analytics, geography, and sociology.
Author: SYLWESTER BEJGER
Publisher: Wydawnictwo Naukowe Uniwersytetu Mikołaja Kopernika
ISBN: 8323137420
Category :
Languages : en
Pages : 53
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[...] Analizując metody stosowane obecnie w obrocie prawnym dla potrzeb dowodowych w przedmiotowym obszarze, można poczynić dwie obserwacje: stosowane (i rekomendowane) ekonomiczne metody dowodowe dotyczące weryfikacji istnienia horyzontalnych zachowań antykonkurencyjnych są zasadniczo metodami jakościowymi, opartymi na obserwacji pewnych arbitralnie zestawionych czynników sprzyjających oraz ich interpretacji,precyzyjny katalog metod ilościowych w przedmiotowym zakresie nie jest objęty żadną jednolitą rekomendacją. W związku z tym spostrzeżeniem, głównym celem, jaki starano się zrealizować, było wypełnienie pewnej luki w stanie wiedzy związanej z aplikacją metody naukowej w zakresie ekonomicznych dowodów pośrednich niekonkurencyjnych zachowań horyzontalnych. Miarą realizacji tego celu jest, poddany pod osąd Czytelnika, stopień i jakość scalenia i wskazania związków pomiędzy aktualną wykładnią prawa, teorią ekonomii a integrowanymi w ramach omawianych metod narzędziami analiz ilościowych. To z kolei prowadzi do zarysowania propozycji instrumentarium badawczego horyzontalnych zachowań antykonkurencyjnych, obejmującego zarówno metody detektorowe, modelowanie strukturalne czy testy oparte na pomiarze siły rynkowej, jak i techniczno-aplikacyjną stronę implementacji wymienionych metod.
Author:
Publisher:
ISBN:
Category : Consumer protection
Languages : en
Pages : 554
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Book Description
