“Asymmetric asymmetries” in Eurozone markets gasoline pricing

Bagnai, Alberto; Ospina, Christian Alexander Mongeau

doi:10.1016/j.jeca.2016.03.004

Cited by 15 publications

(21 citation statements)

References 22 publications

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“…Due to its multiple advantages, the NARDL technique has been used by many researchers in order to identify asymmetries arising due to economic shock. These studies include (Alsamara et al, 2017;Bagnai & Ospina 2016;Elafif et al, 2017;Mamun et al, 2016;Pal & Mitra 2015Salisu & Isah 2017;Shin et al, 2018). The relationship between inflow of remittances and CO2 emissions is expressed in the following functional form:…”

Section: Data Source and Methodologymentioning

confidence: 99%

Does the inflow of remittances cause environmental degradation? Empirical evidence from China

Ahmad

Haq

Khan

et al. 2019

Economic Research-Ekonomska Istraživanja

125

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Remittances inflow plays a significant role in promoting the economic welfare of a country; it has a multidimensional effect on the economy and links with the carbon emissions. This study examines the possible asymmetric transmissions from remittances to carbon dioxide emissions (CO2) in China using time series data from 1980 to 2014. The Non-linear NARDL method is employed to check the longrun asymmetric relationship between remittances inflow and carbon emissions. The findings show that a positive shock in remittances causes an increase in CO2 emissions, while a negative shock in remittances causes a decrease in CO2 emissions. The results support the existence of an asymmetric cointegrating relationship between remittances and CO2 emissions in both short run and the long run. The NARDL dynamic multiplier graph assumes that positive remittances shocks are highe compared to the negative remittances shocks. It suggests that policymakers in China should consider remittances as a policy instrument especially designing strategies and policies related to sustainable environmental quality in the long run.

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Section: Data Source and Methodologymentioning

confidence: 99%

Does the inflow of remittances cause environmental degradation? Empirical evidence from China

Ahmad

Haq

Khan

et al. 2019

Economic Research-Ekonomska Istraživanja

125

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“…To the best of our knowledge, the main papers that have analyzed the existence of asymmetric price transmission for the Spanish retail fuel market are Galeotti, Lanza, and Manera (2003), Grasso and Manera (2007), Polemis et al (2013), Karagiannis, Panagopoulos, and Vlamis (2015), Contín-Pilart, Correljé, and Palacios (2009), Balaguer and Ripollés (2012), Bagnai et al (2016), Clerides (2010) and Venditti (2013). Galeotti et al (2003) examines asymmetries in the transmission of crude oil shocks to gasoline retail prices, considering the exchange rate as an element contributing to the asymmetries.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Using an asymmetric error-correction model with exogenous zero threshold, this paper finds no evidence of asymmetries. Bagnai and Ospina (2016) use nonlinear autoregressive distributed lag (NARDL) with zero threshold and spot prices to investigate the asymmetries in gasoline pricing for 12 Eurozone countries. In their paper Eurozone countries display asymmetric long-run gasoline price adjustment and short-run gasoline price adjustment is symmetric.…”

Section: Literature Reviewmentioning

confidence: 99%

Rockets and feathers behaviour in the Spanish gasoline and diesel market: New evidence

Martín‐Moreno

Pérez

Ruíz

2019

Bulletin of Econ Res

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In this paper we analyse the potential asymmetric response of retail prices for gasoline and diesel‐fuel to changes in oil prices for the Spanish economy and its relation with the so‐called ‘rockets and feathers’ behaviour. We show that the assumption made by previous studies, which use as the key explanatory variable the sign –positive or negative‐ of the change in international oil prices, is inadequate for the Spanish case and the magnitude of the change in international oil prices is also relevant. For small changes in international oil prices there is neither price asymmetry nor rockets and feathers behavior in the retail markets. However, price asymmetries in line with rockets and feathers behavior in retail gasoline and gasoil markets are present when these changes exceed a certain threshold. Following Martín‐Moreno et al. (2018) we first apply an Auto‐regressive Error Correction Model and endogenously estimate the threshold triggering the rockets and feathers behaviour. A time‐varying nature for the dynamic response of retail prices to oil price shocks is revealed when we estimate the TAR‐ECM model using rolling windows. Hence, in a second stage, we use a Markov‐switching estimation of the model to test the robustness of the results given its suitability to changing environments. This study could have relevant policy implications for the Spanish gasoline and gasoil retail markets due to the ongoing debate on the existence of a rockets and feathers behavior in gasoline and gasoil retail markets between the Spanish regulatory body and the oil companies.

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“…The conditions of competition in the national markets, including the lack of nondiscriminatory access to infrastructure and logistics may act as the reasons for this asymmetry. Empirical results in [16] reflect two stable models: firstly, the influence of exchange rate fluctuations shows its positive asymmetry (i.e., depreciation has a greater effect than appreciation). Developing economies widely use the effects of the weakening of their currencies.…”

Section: The Competition In the Directions: The Usathe Eu Western Europe -Eastern Europe Northern Europe -Southern Europe Developed Countmentioning

confidence: 72%

Asymmetric Changes in the World Economy

Rzayeva¹

2017

IOSR JEF

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This study focuses on the investigation of the problems caused by the developing asymmetry of economic relations in the global context. The relevance of the study is dictated by the contradictions between existing practice of asymmetric economic society and an ongoing domination of "equilibrium" paradigm in economic theory that denies the necessity of asymmetry of economic development and emphasizes only its "negative" character. In the authors' opinion, the current world situations show that development of the global economy has the following tendency: the current asymmetry of political influence in the transatlantic region and digital technologies smoothly moving to developing countries are quite destructive to the current methods of providing the stable economy. Key signs indicate that the center of economic development's gravity is shifting to developing countries.

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“Asymmetric asymmetries” in Eurozone markets gasoline pricing

Cited by 15 publications

References 22 publications

Does the inflow of remittances cause environmental degradation? Empirical evidence from China

Does the inflow of remittances cause environmental degradation? Empirical evidence from China

Rockets and feathers behaviour in the Spanish gasoline and diesel market: New evidence

Asymmetric Changes in the World Economy

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