Journal
ENERGY POLICY
Volume 57, Issue -, Pages 389-397Publisher
ELSEVIER SCI LTD
DOI: 10.1016/j.enpol.2013.02.008
Keywords
Price asymmetry; Meta-regression analysis; Oil prices
Funding
- RECERCAIXA research program
- ENDESA
- Spanish Ministry of Economy and Competitiveness [ECO2012 38004]
- Autonomous Government of Catalonia [SGR2009-1066]
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The analysis of price asymmetries in the gasoline market is one of the most widely studied in energy economics. However, the great variation in the outcomes reported makes the drawing of any definitive conclusions difficult. Given this situation, a meta-analysis serves as an excellent tool to discover which characteristics of the various markets analyzed, and which specific features of these studies, might account for these differences. In adopting such an approach, this paper shows how the particular segment of the industry analyzed, the characteristics of the data, the years under review, the type of publication and the introduction of control variables might explain this heterogeneity in results. The paper concludes on these grounds that increased competition may significantly reduce the possibility of occurrence of asymmetric behavior. These results should be taken into consideration therefore in future studies of asymmetries in the oil industry. (C) 2013 Elsevier Ltd. All rights reserved.
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