Exploring the life of fuel price responses in retail markets. The effect of cross-sectional aggregation
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INVESTIGACIONMetadatos
Título
Exploring the life of fuel price responses in retail markets. The effect of cross-sectional aggregationFecha de publicación
2018-08Editor
ElsevierCita bibliográfica
BALAGUER, Jacint; RIPOLLÉS, Jordi (2018). Exploring the life of fuel price responses in retail markets. The effect of cross-sectional aggregation. Energy Policy, v. 119, p. 495-501Tipo de documento
info:eu-repo/semantics/articleVersión de la editorial
https://www.sciencedirect.com/science/article/pii/S0301421518303069Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
Empirical studies on vertical price transmission in retail fuel markets commonly use average group data of petrol stations. In this paper a simulation approach is employed to illustrate that, in this case, the persi ... [+]
Empirical studies on vertical price transmission in retail fuel markets commonly use average group data of petrol stations. In this paper a simulation approach is employed to illustrate that, in this case, the persistence of price responses tends to be overestimated. To explore the real extent of the problem, we apply the mean group (MG) and the mean group with common correlated effects (MG-CCE) estimators to individual data from petrol stations. When heterogeneity in the pricing dynamics is captured by MG and MG-CCE estimators, persistence of retail price responses becomes considerably lower than the typical OLS estimations from average group data would suggest. [-]
Publicado en
Energy Policy (2018), v. 119Proyecto de investigación
1) Financial support from the Spanish Ministry of Economy and Competitiveness (ECO2014‐58975‐P); 2) Universitat Jaume I (UJI-B2017-17)Derechos de acceso
http://rightsstatements.org/vocab/CNE/1.0/
info:eu-repo/semantics/openAccess
info:eu-repo/semantics/openAccess
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