| ID | 121298 |
| Title Proper | Do gasoline prices respond asymmetrically in the euro zone area? evidence from cointegrated panel data analysis |
| Language | ENG |
| Author | Polemis, Michael L ; Fotis, Panagiotis N |
| Publication | 2013. |
| Summary / Abstract (Note) | This paper uses the generalized method of moments (GMM) estimation to a panel data error correction model (ECM) in order to measure the asymmetries in the transmission of shocks to input prices and exchange rate onto the wholesale and retail gasoline price, respectively. For this purpose, we use an updated data set of 6369 weekly observations (January 2000 to February 2011) for 11 euro zone countries. The results indicate the existence of asymmetric responses in the retail and wholesale segment due to possible reasons (oligopolistic structure of the refining industry, existence of consumers search costs, regulatory and legal barriers). |
| `In' analytical Note | Energy Policy Vol. 56; May 2013: p.425-433 |
| Journal Source | Energy Policy Vol. 56; May 2013: p.425-433 |
| Key Words | Generalized Method of Moments ; Panel Data ; Euro Zone Price Asymmetries |