- Tytuł:
- Asymmetric Price Adjustments in the Fuel Market
- Autorzy:
-
Leszkiewicz-Kędzior, Katarzyna
Welfe, Aleksander - Powiązania:
- https://bibliotekanauki.pl/articles/483283.pdf
- Data publikacji:
- 2014
- Wydawca:
- Polska Akademia Nauk. Czytelnia Czasopism PAN
- Tematy:
-
threshold cointegration
threshold error correction model
asymmetric price adjustment
fuel price transmission - Opis:
- The purpose of the article is to verify a hypothesis about the asymmetric pass-through of crude oil prices to the selling prices of refinery products (unleaded 95 petrol and diesel oil). The distribution chain is considered at three levels: the European wholesale market, the domestic wholesale market and the domestic retail market. The error correction model with threshold cointegration proved to be an appropriate tool for making an empirical analysis based on the Polish data. As found, price transmission asymmetry in the fuel market is significant and its scale varies depending on the level of distribution. The only exception is the wholesale price transmission to the domestic refinery price. All conclusions are supported by the cumulative response functions. The analysis sheds new light on the price-setting processes in an imperfectly competitive fuel market of a medium-sized, non-oil producing European country in transition.
- Źródło:
-
Central European Journal of Economic Modelling and Econometrics; 2014, 2; 105-127
2080-0886
2080-119X - Pojawia się w:
- Central European Journal of Economic Modelling and Econometrics
- Dostawca treści:
- Biblioteka Nauki
Artykuł