New York mark-ups on petroleum products

Szymon Wlazlowski; Birger Nilsson; Jane Binner; Monica Giulietti; Nathan Joseph

doi:10.1111/j.1467-9957.2010.02192.x

New York mark-ups on petroleum products

Szymon Wlazlowski^*, Birger Nilsson, Jane Binner, Monica Giulietti, Nathan Joseph

^*Corresponding author for this work

Finance

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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.

Original language	English
Pages (from-to)	145-171
Number of pages	27
Journal	Manchester School
Volume	80
Issue number	2
DOIs	https://doi.org/10.1111/j.1467-9957.2010.02192.x
Publication status	Published - Mar 2012

ASJC Scopus subject areas

Economics and Econometrics

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10.1111/j.1467-9957.2010.02192.x

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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.",

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AB - 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.

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New York mark-ups on petroleum products

Abstract

ASJC Scopus subject areas

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