Transmisión del Precio Internacional del Petróleo a los Precios Internos del Petróleo y los Combustibles en la Argentina

Alberto Porto and Francisco Pizzi

IIE, Working Papers from IIE, Universidad Nacional de La Plata

Abstract: This paper presents evidence of the pass-through from the world price of oil to domestic prices of oil, gasoline and gas- oil between January 2005 and June 2017 in Argentina. Several periods are identified according to the variation of the international price of oil. The calculations reveal high variability of all prices. A dynamic model is estimated with four main results. First, there is low transmission from international to the domestic price of oil. Second, the pass-through from domestic price of oil to domestic prices of gasoline and gas-oil free of taxes is similar to the relationship between those variables at the international level. Third, gasoline and gas-oil taxes are transferred to consumers. Finally, the pass-through from the domestic price of oil to retail prices of gasoline and gas-oil is close to one. There are asymmetries in the response to oil price shocks and the response is higher when prices decrease. The dissociation of the internal-external relative price is linked with the evolution of production, consumption and exports of oil.

Keywords: precios; petróleo; combustibles; impuestos; traspaso. (search for similar items in EconPapers)
JEL-codes: H2 L71 Q48 (search for similar items in EconPapers)
Pages: 39 pages
Date: 2018-08
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Persistent link: https://EconPapers.repec.org/RePEc:akh:wpaper:118

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