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Price asymmetries and volatility in the Italian gasoline market

机译:意大利汽油市场的价格不对称和波动

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摘要

The oil price volatility registered in this period has suggested us to investigate the ef that variability has on price transmission mechanism on the Italian gasoline market. In this paper, we investigate the effect that price volatilities have on price speed adjustment in the production-distribution chain. We consider the wholesale and the retail market. We divide the sample into two subsamples and estimate, in the former, industrial gasoline price responses for a period of low volatility and a period with high volatility of oil prices and, in the latter, retail gasoline price responses for the same period of low and high volatilities of industrial prices. In the period marked by a large price volatility, the degree of asymmetry tends to decrease. In fact, the effects of downstream price decrease are larger than those of price increase and do not reflect the consumers' perception.
机译:这一时期的油价波动表明,我们需要调查可变性对意大利汽油市场价格传导机制的影响。在本文中,我们研究了价格波动对生产-分销链中价格速度调整的影响。我们考虑批发和零售市场。我们将样本分为两个子样本,并在前者中估算了低价格波动时期和高油价波动时期的工业汽油价格响应,而在后者中则估算了低油价和低油价同期的工业汽油价格响应。工业价格高波动。在价格大幅波动的时期内,不对称程度趋于减少。实际上,下游价格下跌的影响大于价格上涨的影响,并不能反映消费者的看法。

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  • 来源
    《OPEC energy review》 |2012年第2期|p.215-229|共15页
  • 作者单位

    Department of Statistics and Mathematics for Economic Research, University of Naples 'Parthenope', Naples, Italy;

    Department of Statistics and Mathematics for Economic Research, University of Naples 'Parthenope', Naples 40-80133, Italy;

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