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New York mark-ups on petroleum products
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Wlazlowski, Szymon, Nilsson, Birger, Binner, Jane, Giulietti, Monica and Joseph, Nathan (2012) New York mark-ups on petroleum products. The Manchester School, Volume 80 (Number 2). pp. 145-171. doi:10.1111/j.1467-9957.2010.02192.x ISSN 1463-6786.
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Official URL: http://dx.doi.org/10.1111/j.1467-9957.2010.02192.x
Abstract
In this paper we analyse rigidities in the behaviour of the mark-up on regular, midgrade and premium varieties of petrol in the New York area using a set of weekly frequency data and a methodology that analyses the pricing process using deterministic and stochastic techniques. The results are consistent across methodologies and indicate that the speeds of adjustment to the long-run equilibrium mark-up differ across varieties of petrol with margins of the premium variety falling faster than they rise, contrary to the popular claim of welfare-decreasing asymmetries in price transmission.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor | ||||
Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
Library of Congress Subject Headings (LCSH): | Petroleum products--Prices--New York | ||||
Journal or Publication Title: | The Manchester School | ||||
Publisher: | Wiley-Blackwell Publishing Ltd. | ||||
ISSN: | 1463-6786 | ||||
Official Date: | 21 February 2012 | ||||
Dates: |
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Volume: | Volume 80 | ||||
Number: | Number 2 | ||||
Page Range: | pp. 145-171 | ||||
DOI: | 10.1111/j.1467-9957.2010.02192.x | ||||
Status: | Not Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
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