An estimation of U.S. gasoline demand: A smooth time-varying cointegration approach

Park, Sung Y.; Zhao, Guochang

doi:10.1016/j.eneco.2009.10.002

Cited by 86 publications

(45 citation statements)

References 23 publications

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“…Kulshreshtha and Parikh [5] established a model for India's coal demand. Park and Zhao [6] established a model for gasoline demand in the U.S. Rao and Rao [7] established a model for gasoline demand in Fiji. Ramanathan [8] established a model for India's gasoline demand.…”

Section: Literaturementioning

confidence: 99%

Energy Conservation in China’s Cement Industry

Lin

Zhang

2017

Sustainability

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China, as the world's largest cement producer, accounts for more than 60% of global cement production. With the continuous development of the Chinese economy, resource and environmental constraints are becoming increasingly serious, and energy saving and emission reduction has become one of the choices with which all industries are faced in the process of development. The cement industry is one of the major sources of China's carbon dioxide emissions and its effect on energy saving and emissions' reduction determines the realization of the national goals of energy conservation and emissions reduction. Taking China's cement industry as the main focus, this paper carries out quantitative analysis of the relationship between energy consumption in the cement industry and a number of variables: energy structure, energy prices, energy efficiency and total output value of the cement industry based on a cointegration model. The study further analyzes the energy saving potential of the cement industry by assuming different scenarios. The research results show that the energy saving potential of the cement industry is 19.06% and 33.69%, with medium and high energy efficiency, respectively.

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Section: Literaturementioning

confidence: 99%

Energy Conservation in China’s Cement Industry

Lin

Zhang

2017

Sustainability

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“…In their model setup price elasticity depends on the time horizon, budget constraints, as well as the economic characteristics of the good in question, i.e. whether it is necessary to economic subsistence or a luxury product, and whether substitutes are easily at hand (Park and Zhao 2010). Within their model set, time is not a relevant variable.…”

Section: Introductionmentioning

confidence: 99%

“…A lot of publications examine the characteristics of the demand side, such as elasticity of demand (Dahl 2012, Brons et al 2008, using various methods and looking at various countries, e.g. North America (Lau et al 2012, Park and Zhao 2010, Nicol 2003, South America (Hofstetter and Tovar 2008), China (Lin and Zeng 2013), the Middle East (Ben Sita et al 2012), or Europe (Pock 2010). Overall, the common denominator is that demand for gasoline is inelastic (Haucap and Mueller 2012).…”

Section: Introductionmentioning

confidence: 99%

“…Pock's analysis shows that the surge in diesel cars across Europe led to an overestimation of both income and own-price elasticity. With respect to the US retail market for gasoline, Park and Zhao (2010) focus on an empirical data analysis of post 2000 data. In their model setup price elasticity depends on the time horizon, budget constraints, as well as the economic characteristics of the good in question, i.e.…”

Section: Introductionmentioning

confidence: 99%

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Regulating Gasoline Retail Markets: The Case of Germany

Wittmann

2014

Economics

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In 2011, price peaks in retail gasoline prices caused public outrage and attracted the attention of German regulatory agencies. After having examined the market, competition authorities concluded that tacit collusion existed but could not easily be prosecuted under given competition law. In several other countries, various types of regulatory schemes are implemented to tackle tacit collusive behavior, e.g., there are price ceilings established in Luxembourg or per day limits of price increases given in Austria. However, research has found that none of them has led to satisfactory results. Hence, the following paper proposes a different regulatory approach, i.e., the implementation of corrective taxes. Results show that a specially tailored tax on price successfully manages to render collusion an unprofitable business by collecting marginal profits and that the inherent vice of the gasoline retail market, i.e., the transparency that enables tacit-and therefore non-prosecutable-collusion, could be turned into a regulatory virtue as it becomes a powerful means to help successfully tackle imperfect competition and to bring about a more efficient market outcome. JEL Q48 D42 D43

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“…Table 2 contains the elasticities of transportation fuel (GCC consists of Bahrain, UAE, Oman, Saudi Arabia, Qatar and Kuwait. OECD is composed of Canada, the United States, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, UK, Australia, Japan, and Turkey) [4,5,[7][8][9][10][11][12][13][14][15][16][17]. The studies dealing with demand function can provide the information of consumer's demand behavior and economic policy's effects.…”

Section: Introductionmentioning

confidence: 99%

Short-Run and Long-Run Elasticities of Diesel Demand in Korea

Lim

Kim

et al. 2012

Energies

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This paper investigates the demand function for diesel in Korea covering the period 1986-2011. The short-run and long-run elasticities of diesel demand with respect to price and income are empirically examined using a co-integration and error-correction model. The short-run and long-run price elasticities are estimated to be −0.357 and −0.547, respectively. The short-run and long-run income elasticities are computed to be 1.589 and 1.478, respectively. Thus, diesel demand is relatively inelastic to price change and elastic to income change in both the short-run and long-run. Therefore, a demand-side management through raising the price of diesel will be ineffective and tightening the regulation of using diesel more efficiently appears to be more effective in Korea. The demand for diesel is expected to continuously increase as the economy grows.

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An estimation of U.S. gasoline demand: A smooth time-varying cointegration approach

Cited by 86 publications

References 23 publications

Energy Conservation in China’s Cement Industry

Energy Conservation in China’s Cement Industry

Regulating Gasoline Retail Markets: The Case of Germany

Short-Run and Long-Run Elasticities of Diesel Demand in Korea

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