Some further empirical evidence on the impact of oil price changes on petrol prices

Driffield, Nigel L., Ioannidis, Christos and Peel, David (2003). Some further empirical evidence on the impact of oil price changes on petrol prices. International Journal of the Economics of Business, 10 (2), pp. 195-203.

Abstract

This paper analyses the asymmetries in the response of petrol prices to oil price shocks. We show that previous work, based on the determination of asymmetric responses, can be improved upon by allowing for asymmetries in short term dynamics. The paper shows that a significant determinant of the response of petrol prices to oil price changes, is the extent to which petrol price can be seen to have departed from its long run equilibrium level.

Publication DOI: https://doi.org/10.1080/13571510305063
Divisions: Aston Business School > Economics finance & entrepreneurship
Aston Business School
Uncontrolled Keywords: petrol price,oil prices,asymmetric adjustment,non-linearity,cointegration
Full Text Link: http://www.tand ... /13571510305063
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Published Date: 2003-07
Authors: Driffield, Nigel L.
Ioannidis, Christos
Peel, David

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