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Testing For Differences In The Own Price Elasticity Of Demand For Gasoline Across The United States
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Book Synopsis Testing for Differences in the Own-price Elasticity of Demand for Gasoline Across the United States by : Vincent Frank Barbara
Download or read book Testing for Differences in the Own-price Elasticity of Demand for Gasoline Across the United States written by Vincent Frank Barbara and published by . This book was released on 2012 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States has taken some action to reduce carbon emissions through a voluntary carbon credit market. This is a start, but other policies, such as increased gasoline taxes, are likely needed to reduce carbon emissions to levels that have the potential to affect climate change. Information on the own-price elasticity of gasoline demand is essential in determining an optimal tax that internalizes the cost of carbon emissions. This study estimates the price elasticity of gasoline demand for a 48 contiguous United States panel to contribute information to estimate the optimal gasoline tax for each state and contribute to the discussion about whether individual United States have unique optimal gasoline tax rates. Recently, Lin and Prince (2009) estimated the price elasticity of gasoline demand and optimal gasoline tax for California and suggest that the state is different and should have a unique optimal gasoline tax since prices are more variable. A single tax is reasonable given states are similar, or as Lin and Prince (2009) suggest, state optimal gasoline taxes are different from each other in terms of responsiveness to changes in prices. This assertion was tested by estimating the own-price elasticity of gasoline demand for the 48 contiguous United States, and testing if elasticities differ significantly between California and the other 47 States. Results from an F-test on difference coefficients, and demonstration of individual state price elasticities statistically different from California's support the Lin and Prince (2009) claim that states will need different optimal gasoline tax rates.
Book Synopsis Price Elasticities of Demand for Motor Gasoline and Other Petroleum Products by : Terry H. Morlan
Download or read book Price Elasticities of Demand for Motor Gasoline and Other Petroleum Products written by Terry H. Morlan and published by . This book was released on 1981 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research results for short-term and long-term petroleum elasticities are summarized, and existing Energy Information Administration (EIA) models of energy demand are used to develop estimates of price response for 1-, 3-, 5-, and 10-year intervals. In the short-run, elasticities reported for most petroleum products in most end-uses generally range from -.1 to -.4 although the numerous research estimates for gasoline demand elasticity are clustered in the more elastic range of -.1 to -.3. EIA models used in this analysis fall within these ranges and tend toward the higher (in absolute terms) end of the elasticity range. In transportation uses, for which most of the research has centered on gasoline, petroleum demand has been shown to be less responsive to price than the other sectors, with long-term gasoline estimates generally falling in the range of -.3 to -.9. In investigating the price sensitivity for periods up to 10 years using the EIA Demand Analysis System, petroleum product elasticities in all sectors are typically between -.4 and -.1. For automobile gasoline demand, the greatest proportion of the 10-year price response is manifested in increased cutbacks in travel. The model studies show that, given continued increases in the price of oil, the proportion of consumer budgets as well as industrial production costs allocated for petroleum products will increase; that petroleum prices will be volatile in instances of temporary oil shortages; and that market forces can achieve long-term conservation of petroleum, but at the cost of greater proportional increases in oil prices.
Book Synopsis Examining the Short-run Price Elasticity of Gasoline Demand in the United States by : Michael James Brannan
Download or read book Examining the Short-run Price Elasticity of Gasoline Demand in the United States written by Michael James Brannan and published by . This book was released on 2012 with total page 61 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Estimating the consumer demand response to changes in the price of gasoline has important implications regarding fuel tax policies and environmental concerns. There are reasons to believe that the short-run price elasticity of gasoline demand fluctuates due to changing structural and behavioral factors. In this paper I estimate the short-run price elasticity of gasoline demand in two time periods, from 2001 to 2006 and from 2007 to 2010. This study utilizes data at both the national and state levels to produce estimates. The short-run price elasticities range from -0.034 to -0.047 during 2001 to 2006, compared to -0.058 to -0.077 in the 2007 to 2010 period. This paper also examines whether there are regional differences in the short-run price elasticity of gasoline demand in the United States. However, there appears to only be modest variation in price elasticity values across regions.
Book Synopsis Heterogeneity in the Pass-through from Oil to Gasoline Prices by : Lutz Kilian
Download or read book Heterogeneity in the Pass-through from Oil to Gasoline Prices written by Lutz Kilian and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose a new instrument for estimating the price elasticity of gasoline demand that exploits systematic differences across U.S. states in the pass-through of oil price shocks to retail gasoline prices. We show that these differences are primarily driven by the cost of producing and distributing gasoline, which varies with states’ access to oil and gasoline transportation infrastructure, refinery technology, and environmental regulations, creating cross-sectional gasoline price shocks in response to an aggregate oil price shock. Time-varying estimates do not support the view that the gasoline demand elasticity has declined in absolute value to near zero since the 1980s. The elasticity was stable near -0.3 until the end of 2014. It rose to about -0.2 in 2015-16, but has remained stable since 2016. Gasoline demand is more responsive in states with lower personal income, higher unemployment rates and lower urban population shares. There is no evidence for an asymmetry in the elasticity with respect to positive and negative gasoline price shocks. We illustrate how these elasticity estimates inform the recent policy debate about the impact of gasoline tax holidays on consumers’ discretionary income, about the demand destruction from the spike in gasoline prices after the in out the impact of rising gasoline prices on carbon emissions.
Download or read book Energy Research Abstracts written by and published by . This book was released on 1989 with total page 992 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand by : Jonathan E. Hughes
Download or read book Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand written by Jonathan E. Hughes and published by . This book was released on 2010 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security, to name only a few. While the short-run price and income elasticities of gasoline demand in the United States have been studied extensively, the vast majority of these studies focus on consumer behavior in the 1970s and 1980s. There are a number of reasons to believe that current demand elasticities differ from these previous periods, as transportation analysts have hypothesized that behavioral and structural factors over the past several decades have changed the responsiveness of U.S. consumers to changes in gasoline prices. In this paper, we compare the price and income elasticities of gasoline demand in two periods of similarly high prices from 1975 to 1980 and 2001 to 2006. The short-run price elasticities differ considerably: and range from -0.034 to -0.077 during 2001 to 2006, versus -0.21 to -0.34 for 1975 to 1980. The estimated short-run income elasticities range from 0.21 to 0.75 and when estimated with the same models are not significantly different between the two periods.
Book Synopsis Evidence of a Shift in the Short-run Price Elasticity of Gasoline Demand by : Jonathan E. Hughes
Download or read book Evidence of a Shift in the Short-run Price Elasticity of Gasoline Demand written by Jonathan E. Hughes and published by . This book was released on 2006 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security, to name only a few. While the short-run price and income elasticities of gasoline demand in the United States have been studied extensively, the vast majority of these studies focus on consumer behavior in the 1970s and 1980s. There are a number of reasons to believe that current demand elasticities differ from these previous periods, as transportation analysts have hypothesized that behavioral and structural factors over the past several decades have changed the responsiveness of U.S. consumers to changes in gasoline prices. In this paper, we compare the price and income elasticities of gasoline demand in two periods of similarly high prices from 1975 to 1980 and 2001 to 2006. The short-run price elasticities differ considerably: and range from -0.034 to -0.077 during 2001 to 2006, versus -0.21 to -0.34 for 1975 to 1980. The estimated short-run income elasticities range from 0.21 to 0.75 and when estimated with the same models are not significantly different between the two periods.
Book Synopsis The Price Elasticity of Demand for Gasoline in the United States 1970-1977 by : Marvin Eliot Anderson
Download or read book The Price Elasticity of Demand for Gasoline in the United States 1970-1977 written by Marvin Eliot Anderson and published by . This book was released on 1975 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Energy Research and Development Administration. Technical Information Center Publisher : ISBN 13 : Total Pages :982 pages Book Rating :4.3/5 (129 download)
Book Synopsis ERDA Energy Research Abstracts by : United States. Energy Research and Development Administration. Technical Information Center
Download or read book ERDA Energy Research Abstracts written by United States. Energy Research and Development Administration. Technical Information Center and published by . This book was released on 1977 with total page 982 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Econometric Models of U.S. Energy Demand by : Robert Halvorsen
Download or read book Econometric Models of U.S. Energy Demand written by Robert Halvorsen and published by . This book was released on 1978 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Energy Abstracts for Policy Analysis by :
Download or read book Energy Abstracts for Policy Analysis written by and published by . This book was released on 1985 with total page 708 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis ERDA Energy Research Abstracts by : United States. Energy Research and Development Administration
Download or read book ERDA Energy Research Abstracts written by United States. Energy Research and Development Administration and published by . This book was released on 1977 with total page 906 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book ERDA Energy Research Abstracts written by and published by . This book was released on 1983 with total page 1048 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Regression Analysis by : George C. S. Wang
Download or read book Regression Analysis written by George C. S. Wang and published by Institute of Business Forec. This book was released on 2003 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Energy and Environment by : Richard Loulou
Download or read book Energy and Environment written by Richard Loulou and published by Springer Science & Business Media. This book was released on 2005-04-20 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new work on energy and environmental modeling describes a broad variety of modeling methodologies, embodied in models of varying scopes and philosophies. Examples range from top-down integrated assessment models to bottom-up partial equilibrium models, to hybrid models.
Book Synopsis Linkage Methodology of the Intermediate Future Forecasting System by :
Download or read book Linkage Methodology of the Intermediate Future Forecasting System written by and published by . This book was released on 1984 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Empirical Economic and Financial Research by : Jan Beran
Download or read book Empirical Economic and Financial Research written by Jan Beran and published by Springer. This book was released on 2014-11-07 with total page 506 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to establish a connection between the traditional field of empirical economic research and the emerging area of empirical financial research and to build a bridge between theoretical developments in these areas and their application in practice. Accordingly, it covers broad topics in the theory and application of both empirical economic and financial research, including analysis of time series and the business cycle; different forecasting methods; new models for volatility, correlation and of high-frequency financial data and new approaches to panel regression, as well as a number of case studies. Most of the contributions reflect the state-of-art on the respective subject. The book offers a valuable reference work for researchers, university instructors, practitioners, government officials and graduate and post-graduate students, as well as an important resource for advanced seminars in empirical economic and financial research.
