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

Polemis, Michael L. and Tsionas, Efthymios (2016) An alternative semiparametric approach to the modelling of asymmetric gasoline price adjustment. Energy Economics, 56. pp. 384-388. ISSN 0140-9883

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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.

Item Type:
Journal Article
Journal or Publication Title:
Energy Economics
Additional Information:
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
Uncontrolled Keywords:
?? semiparametric gmm modelasymmetric gasoline price adjustmentrockets and feathers hypothesiseconomics and econometricsenergy(all) ??
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Deposited On:
21 Apr 2016 08:32
Last Modified:
27 Nov 2023 00:17