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3 edition of Evidence of a shift in the short-run price elasticity of gasoline demand found in the catalog.

Evidence of a shift in the short-run price elasticity of gasoline demand

Jonathan E. Hughes

Evidence of a shift in the short-run price elasticity of gasoline demand

by Jonathan E. Hughes

  • 73 Want to read
  • 17 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Gasoline -- Prices -- United States -- Mathematical models

  • Edition Notes

    StatementJonathan E. Hughes, Christopher R. Knittel, Daniel Sperling.
    SeriesNBER working paper series -- no. 12530., Working paper series (National Bureau of Economic Research) -- working paper no. 12530.
    ContributionsKnittel, Christopher R., Sperling, Daniel., National Bureau of Economic Research.
    The Physical Object
    Pagination1 v. :
    ID Numbers
    Open LibraryOL17631158M
    OCLC/WorldCa71837442

    Get this from a library! Evidence of a shift in the short-run price elasticity of gasoline demand. [Jonathan E Hughes; Christopher R Knittel; Daniel Sperling; National Bureau of Economic Research.] -- "Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security, to. The price elasticity of gasoline demand is a key parameter in evaluation of various policy options. However, most of the literature uses aggregate data to identify this elasticity. Temporal and spatial aggregation make elasticity estimates unreliable. We employ a unique dataset of all gasoline transactions in Iran during a four-month period around an unexpected exogenous price change to.

    Consequently, short-run demand curves for gasoline tend to be very inelastic. As a result, if changing crude oil prices results in an upward shift in the supply curve for gasoline, we should expect the result to be a substantial increase in the price of gasoline and only a fairly modest decrease in the amount of gasoline consumed. Evidence of a Shift in the Short Run Price Elasticity of Gasoline Demand. The Energy Journal 93– Li, Shanjun, Christopher Timmins and Roger von Haefen. How Do Gasoline Prices Affect Fleet Fuel Economy? American Economic Journal: Economic Policy 1: –

    a shift in the short-run price elasticity of gasoline demand” by J. Hughes, C. Knittel and D. Sperling. Some of you may also find the article ”An introduction to regression analysis” by A. Sykes, also on the reading list, is a useful reference for the material. 1. (60) In section 2 the authors estimate the following demand equation.   In one of the first studies to address this point, John Coglianese, Lucas W. Davis, Lutz Kilian and James H. Stock in exploited the variation in gasoline taxes across states to show that the short-run U.S. price elasticity of gasoline demand is in the aggregate. This estimate far exceeds what Hughes and his coauthors found, for example.


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Evidence of a shift in the short-run price elasticity of gasoline demand by Jonathan E. Hughes Download PDF EPUB FB2

In this paper, we compare the price and income elasticities of gasoline demand in two periods of similarly high prices from to and to The short-run price elasticities differ considerably: and range from to during toversus to Cited by: In their study, Hughes, Knittel, and Sperling () discuss evidence of a shift in the demand elasticity for gasoline in the United States as they estimate short-run own-price elasticities of Jonathan E.

Hughes & Christopher R. Knittel & Daniel Sperling, "Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand," The Energy Journal, International Association for Energy Economics, vol. 29(1), pages Cited by: Jonathan E. Hughes & Christopher R.

Knittel & Daniel Sperling, "Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand," The Energy Journal, International Association for Energy Economics, vol.

29(1), pages Handle: RePEc:aen:journlva Request PDF | Short-run price and income elasticity of gasoline demand: Evidence from Lebanon | We empirically estimate the demand for gasoline in the presence of multiple shifts caused by.

Journal Article: Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand () Working Paper: Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand () This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text. Hughes, J E, C R Knittel, and D Sperling (), “Evidence of a shift in the short-run price elasticity of gasoline demand”, The Energy Journal, 29(1), 93– Levin, L, M S Lewis, F A Wolak (), “High frequency evidence on the demand for gasoline”, NBER Working Paper No.June.

Ans: The coefficient β1 is the price elasticity of demand, in the period ­ it isthis means that for a 1% increase in price in this period demand will fall by %, similarly in the period it is so for the same price change demand falls by %. J.E. Hughes, C.R. Knittel, D.

Sperling, Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand,National Bureau of Economic Research. The authors sifted gasoline use data and found price-elasticity to be minuscule — just 4% in the short-run and, though they didn’t quantify it, not much greater in the long-run.

Dahl and Sterner () surveyed the literature and provided an average short-run price elasticity of gasoline demand of − and an average short-run income elasticity of gasoline demand ofwhile Espey () in his encompassing survey over price elasticities in the US and other industrialized countries provides a median of − two different time periods, they show that the short-run gasoline price elasticity shifted down considerably from a range of to in the late s to to in the early s.

Taking the second study, for example, the realized drop in quantity demanded in the short run from a 10% rise in fuel costs may be greater or lower than %. While the short-run the price elasticity of demand isthere is a standard deviation ofwhile the long rise price elasticity of has a standard deviation of CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security, to name only a few.

While the short-run price and income elasticities of gasoline demand in the United States have been studied. Evidence of a Shift in the Short-‐Run Price Elasticity of Gasoline Demand. By Jonathan E.

Hughes, Christopher R. Knittel, Daniel Sperling, Jel D, R R Gasoline and Price Elasticity. Abstract. Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change.

In this paper, we compare the price and income elasticities of gasoline demand in two periods of similarly high prices from to and to The short-run price elasticities differ considerably and range from to during toversus to.

Assume the price of gasoline doubles tonight and remains at that price for the next two years. Compared with the long-run price elasticity of demand for gasoline, the short-run price elasticity of demand for gasoline will be _____.

higher more variable the same lower. Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand / 95 decrease from and at the sample average to and for average values. In this paper we estimate the short-run price and income elasticities of gasoline demand using a consistent dataset that spans the s and s.

This. This variation in the sensitivity to the price change is called elasticity. It is expected that the quantity of gasoline purchased is affected by the price of gasoline and by the economic conditions at that time. Therefore, as the price of gasoline rises the demand should fall.

But chart 1. Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand. Jonathan Hughes (), Christopher Knittel and Daniel Sperling.

The Energy Journal,vol. 29, issue 1, Abstract: Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security. The short-run value of is close to this level, Energy Economics Volume 16 Number 2 which may be explained by the simple fact that a given short-run change in the stock of vehicles must have a nearly equal effect on gasoline demand.

The short-run price elasticity is similar to the level in Table 1 quoted from Dahl and Sterner [2], but. In order to make strong policies, the policymakers examine the impact of changes in income and price of the gasoline demand.

It is said that various structural and behavioural factors have contributed to the US citizen’s gasoline demand with the changing prices.(Evidence of a Shift in the Short-Run Price Elasticity,) Author’s.Examining the Short-Run Price Elasticity of Gasoline Demand in the United States Michael Brannan Clemson University, generaland!there!is!evidence!consumers!are!becoming!more!dependentondriving!

shift!!price!elasticity!of!gasoline!demand.!!Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand Jonathan E. Hughes, Christopher R. Knittel, and Daniel Sperling NBER Working Paper No.

September JEL No. D12,L91,Q31,Q41,R40,R41 ABSTRACT Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation .