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Rent seeking oligopolistic behaviour in European gasoline markets

Michael Polemis () and Panagiotis Fotis ()

Economics Bulletin, 2015, vol. 35, issue 1, 827-833

Abstract: This paper explores the asymmetric adjustment speed of gasoline price in twelve European Union (EU) countries transmitted directly in a single stage formulation. The empirical results shed new light on the taxation effect and its role to the price asymmetry nexus, pointing that in many EU countries a crude oil price increase is passed through more forcefully than a price decrease revealing a rent-seeking oligopolistic behaviour by the marketers.

Keywords: Gasoline; Rockets and feathers hypothesis; Taxation; Dynamic OLS estimator (search for similar items in EconPapers)
JEL-codes: L0 L1 (search for similar items in EconPapers)
Date: 2015-03-30
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