ROCKETS AND FEATHERS - THE ASYMMETRIC SPEED OF ADJUSTMENT OF UK RETAIL GASOLINE PRICES TO COST CHANGES

被引：316

作者：

BACON, RW

机构：

[1] Oxford Institute for Energy Studies, Oxford

来源：

ENERGY ECONOMICS | 1991年 / 13卷 / 03期

关键词：

GASOLINE PRICES; SPEED OF ADJUSTMENT; ASYMMETRIC ADJUSTMENT;

D O I：

10.1016/0140-9883(91)90022-R

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The paper develops a quadratic quantity adjustment model to test the hypothesis put forward in the recent Monopolies and Mergers Commission Report, that the speed of adjustment of UK retail gasoline prices to cost changes is more rapid when costs rise than when they fall, and that the adjustment path is more concentrated around the mean value on the upswing. Using data from 1982 to 1989 evidence of faster and more concentrated responses to cost increases were found.

引用

页码：211 / 218

页数：8