Asymmetric Price Adjustment in the US Gasoline Industry: Evidence from Bayesian Threshold Dynamic Panel Data Models
نویسندگان
چکیده
منابع مشابه
Price Transmission, Threshold Behavior and Asymmetric Adjustment in Iranian Poultry Market
The Iranian poultry sector has experienced many significant structural changes in recent years. Such changes may have influenced price dynamics and transmission of shocks through marketing channels especially on retail markets. This paper investigate price transmission, threshold behavior and asymmetric adjustment in poultry sector of Ardebil (AR), east Azerbaijan (EA) and west Azerbaijan (WA) ...
متن کاملExplaining Asymmetric Price Adjustment
In an in nite horizon model with stochastic costs, moderate ination, costly price adjustment, and optimal price setting, we demonstrate that individual price reductions will be larger but less frequent than price increases. With positive ination, aggregate prices are more responsive to cost increases than to cost decreases, and a calibrated version of the model ts well the magnitude of downw...
متن کاملCSEM WP 120 Asymmetric Price Adjustment and Consumer Search: An Examination of the Retail Gasoline Market
It has been documented that retail gasoline prices respond more quickly to increases in wholesale price than to decreases. However, there is very little theoretical or empirical evidence identifying the market characteristics responsible for this behavior. This paper presents a new theoretical model of asymmetric adjustment that empirically matches observed retail gasoline price behavior better...
متن کاملAsymmetric Price Adjustment and Consumer Search: An Examination of the Retail Gasoline Market
It has been documented that retail gasoline prices respond more quickly to increases in wholesale price than to decreases. However, there is very little theoretical or empirical evidence identifying the market characteristics responsible for this behavior. This paper presents a new theoretical model of asymmetric adjustment that empirically matches observed retail gasoline price behavior better...
متن کاملBayesian Inference for Random Coefficient Dynamic Panel Data Models
We develop a hierarchical Bayesian approach for inference in random coefficient dynamic panel data models. Our approach allows for the initial values of each unit’s process to be correlated with the unit-specific coefficients. We impose a stationarity assumption for each unit’s process by assuming that the unit-specific autoregressive coefficient is drawn from a logitnormal distribution. Our me...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: International Journal of the Economics of Business
سال: 2016
ISSN: 1357-1516,1466-1829
DOI: 10.1080/13571516.2016.1221628