Some Further Empirical Evidence on the Impact of Oil Price Changes on Petrol Prices

Nigel Driffield, Christos Ioannidis and David Peel

International Journal of the Economics of Business, 2003, vol. 10, issue 2, 195-203

Abstract: This paper analyses the asymmetries in the response of petrol prices to oil price shocks. We show that previous work, based on the determination of asymmetric responses, can be improved upon by allowing for asymmetries in short term dynamics. The paper shows that a significant determinant of the response of petrol prices to oil price changes, is the extent to which petrol price can be seen to have departed from its long run equilibrium level.

Keywords: Petrol Price; Oil Prices; Asymmetric Adjustment; Non-Linearity; Cointegration (search for similar items in EconPapers)
Date: 2003
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Citations: View citations in EconPapers (6)

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DOI: 10.1080/13571510305063

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