Author : Robert Kaufmann
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Book Synopsis Social and Environmental Events Raise Motor Gasoline Prices Beyond Market Fundamentals by : Robert Kaufmann
Download or read book Social and Environmental Events Raise Motor Gasoline Prices Beyond Market Fundamentals written by Robert Kaufmann and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Following the Russian invasion of Ukraine, higher prices for motor gasoline re-ignite debate about policy intervention. No intervention is needed if market forces largely determine prices; if non-market forces play an important role, policy intervention may be warranted. We evaluate the need for policy intervention in motor gasoline markets by analyzing weekly prices for motor gasoline. During most of the 2010 - 2022 sample, market forces account for motor gasoline prices, except when nonmarket factors associated with the Russian invasion of Ukraine, Hurricane Harvey, and the Covid-19 pandemic, raise motor gasoline prices by up to $0.25 per gallon and cost drivers $10 to $72. Because these expenditures are not caused by market forces, they may justify additional oversight and limited policy interventions when large changes in crude oil prices correlate with increases the role of nonmarket factors.